http://www.telegraph.co.uk/finance/n...y-for-IAG.html

He believed Chilean-based Latin American carrier LAN will remain within the OneWorld Alliance after its merger with Brazil's TAM is completed.

TAM is a member of Lufthansa's Star Alliance and the loss of LAN would be a significant blow to the effectiveness of OneWorld, Mr Walsh admitted.

"We believe we are the better fit for LAN," he said. "And we believe we can certainly replicate what Star gives TAM from a European point of view.

He said TAP had come out as a priority target when IAG first researched the potential for market consolidation.