Category Archives: Resources

American Airlines: Latin American Air Traffic on the Rise

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AMR Corp., parent of American Airlinesand American Eagle, said international travel to Latin America increased 4 percent in April, but saw an overall decline in traffic in its other markets.

Revenue passenger miles for Latin America increased to 2 million last month, up from last year’s 1.9 million. The Fort Worth, Texas-based company boarded 2.6 million passengers to Latin America during the month, up 7.4 percent from 2.4 million last year. The load factor for the Latin American unit declined 2.6 percent.

American’s Latin American traffic flies predominately out of Miami International Airport (MIA).

For the airline’s domestic market, the company said traffic and revenue both declined in April.

Passenger revenue miles for domestic flights in April dropped to 6.2 million, down 1.4 percent from last year’s 6.3 million, the company said. Available seat miles were down 1.5 percent, from 7.4 million passengers to 7.3 million. Load factor for domestic flights was up 0.1 percentage points to 85 percent.

April’s consolidated passenger revenue per available seat mile was an estimated 2.9 percent below the same period last year. On a consolidated basis, the company boarded 8.8 million passengers in April.

AMR Corp., which is undergoing bankruptcy, plans to merge American Airlines with rival US Airways Group Ltd. (NYSE: LCC) some time before the end of the year.

Shares of AMR Corp. (Pink sheets: AAMRQ) were up 13 cents, or 2.66 percent, to $5.01 in Thursday morning trading. The stock was trading at a volume of 1.3 million shares, down from its three-month average volume of 12 million shares. AAMRQ saw its 52-week high of $4.96 on May 8 and its 52-week low of 36 cents on Nov. 20.

Carlos Slim: A Profile of the World’s Richest Man

[SlideDeck id=’1350′ width=’100%’ height=’370px’] carlos-slim-2As an outsider, it would be tough to judge Carlos Slim at first glance. The 73-year-old Mexican man is far from the standard cut of what we expect from a billionaire tycoon. He’s humble in stature, lives in a modest (by billionaire standards) home in Mexico City, and is well known for his weekly family dinners, get-togethers, and his philanthropy. What he’s also known for, however, is being the world’s wealthiest, and most powerful businessman. His empire stretches from cell phones to soccer teams, copper mines to the New York Times – of which he is a part owner.  He’s a widower, an innovator, and a source of pride for both Mexico and Latin America as a whole.

How Slim Got His Start

Carlos Slim Helú was born in 1940 in Mexico City to Lebanese parents. From and early age, he was raised by his father with the skills of basic business and commerce. By the time he had graduated from college, he was already becoming a successful trader, and spent the next 20 years of his life growing his net worth through real estate and sound investments into some of Mexico’s top businesses.

During the 90’s, slim conglomerated his business interests into a group called Grupo Carso. Grupo Carso now runs the majority of his holdings in telecom, technology, retail, and finance. As of 2012, Carlos Slim’s corporate worth is valued at around USD $69 billion, and with Mexico’s economy on the rise, as well as an immense purchasing power, all signs point to this number going up even further in the next decade.

Capitalizing on His Corporate Cunningness

Slim’s most notable successes have been attributed to his dealings in the telecom industry, specifically with Telmex and America Movil. America Movil is now the largest mobile-phone carrier on the continent, and accounts for nearly USD $49 billion of Slim’s corporate holdings. But the Mexican billionaire’s portfolio stretches even further, with major investments into Latin American mining interests, and a large stake in The New York Times, the world’s most valuable and prestigious newspaper.

Most recently, Slim has found success in his café and retail chain, Sanborns. Grupo Sanborns, as the company is called, has just set the price for a stock issue it hopes will generate just under USD $1 billion at 28 pesos per share, expecting it to grow to USD $951 million globally based on early predictions. Sanborns is one of Central America’s largest locally owned chains, and has lofty goals for expanding further into the food services market for 2013 and beyond.

Although Slim is best known for his substantial success in the business world, he is also well known for his vast philanthropic contributions. He has a popular foundation named after him, which has made significant donations to sports, cultural, and quality of life projects in Mexico. One of his best-known projects is the Museo Soumaya in Mexico City, which contains the world’s second-largest collection of Rodin sculptures, as well as well as 66,000 other precious art pieces. The museum is free of charge to enter, and is considered a major cultural aspect of Mexico City and its surroundings.

Whether it’s building a telecommunications empire, founding a museum, or owning a soccer franchise, Carlos Slim Helú has seen nothing but success in his endeavors. His companies continue to grow at a rapid pace, and along with it, the local economies of both Mexico, and Latin America. When he’s all said and done, Slim will be remembered as one of the pioneers of the modern Latin American business model, and one of the big reasons for the regions current and future success.

For more info on Slim’s companies,  take a Test Drive of Latin Target and get access to uptodate information on contacts inside the largest companies in Latin America, such as Telmex, America Movil, and Sanborns.

Latin America's Movers & Shakers, report by EMAT

Latin Target, the premium source of business contact information in Latin America has rolled out a new feature Latin America’s Movers & Shakers.  The  listing includes over 50 of Latin America’s most powerful and influential businessmen and women.






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Carlos Slim eyes Latin America for growth, FT reports

Carlos Slim, the Mexican telecommunications tycoon and the world’s richest man, intends to increase investment in Latin America to benefit from cheaper technology and the region’s increasing purchasing power before looking to break into other markets.

In an interview with the Financial Times, Mr Slim, who is the controlling shareholder of América Móvil, the region’s biggest telecoms company, said: “The fertile ground is Latin America . . . within 10 or 15 years, it is going to break the barrier…

Read the full article here at the Financial Times

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Grupo Carso acquires 70% of TOC in Colombia

Group Carso, S.A. de C.V., owned by Mexican business magnate Carlos Slim, acquired a 70 per cent interest in Tabasco Oil Company, LLC (TOC), which has an exploration and production concession in Colombia. Financial details of the acquisition were not disclosed.

“This marks the entrance of Carso Group into a new sector in Latin America,” reported the daily newspaper El Espectador, citing information released by the group to the Mexican Stock Exchange (BMV by its Spanish acronym).

TOC, owned by Geoprocesados, is dedicated to the exploration, production and commercialization of hydrocarbons in Latin America. The company has just one concession in Colombia.

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Mexican tycoon Carlos Slim looking at oil in Colombia

Mexican billionaire Carlos Slim said he is looking towards Colombia’s oil industry, as the world’s richest man boosts infrastructure investments outside his home country.
“We are looking at opportunities in other countries that look interesting to us. In Colombia we know that there has been a lot of investment. The government is actively looking at the development of the oil industry and is promoting other investments,” Slim said in an interview with Bloomberg television aired on Thursday.
Colombia has experienced a boom in oil and mining investment since a 2002 U.S.-backed crackdown against leftist rebels. A flood of new players has emerged to take advantage of government policies meant to attract fresh cash.
The South American nation is also the world’s No. 5 coal exporter, but a series of mining explosions that killed dozens of workers over the last year have prompted calls for stricter government oversight at a time when Colombia’s mining sector is enjoying a mini-boom.
Colombia said on Wednesday it could extend a suspension of new requests for mining concessions for up to one year due to the recent accidents in the industry.
Ranked the world’s richest man by Forbes magazine, Slim spun off shares of his miner Frisco last month, betting on future demand for metals such as copper and gold as commodities prices around the world soar.
“I think the prices of primary products in the next years will have a bigger demand by a population that is getting out of poverty and is getting involved in the market,” Slim said in the interview, held in New York.
Frisco has said it will continue searching for more exploration land as it starts operations at five of its existing mines across Mexico during 2011 and 2012.
Slim told reporters two weeks ago that he is funneling 10 billion pesos into Frisco this year and another 13 billion pesos more into his infrastructure firm Ideal.
The entrepreneur also owns Swecomex, which provides engineering and platform construction services for the oil industry in Mexico, with state-run giant Pemex a key client. However, Slim has stayed away from costly and labor intensive deep water exploration in the Gulf of Mexico.
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