Even though LAN and TAM announced their intentions to merge back in 2010, not much has changed at either airline as they have continued to operate independently without much coordination. While it has been determined for a while now that TAM will leave Star Alliance and join OneWorld, no date has been set till today. It has now been confirmed that TAM will exit Star Alliance on March 30, 2014, and join OneWorld on March 31, 2014.
Ultimately I find the current situation to be pretty decent, since you can earn and redeem American AAdvantage miles for travel on TAM even though they’re still in Star Alliance, though it’ll be nice to get OneWorld benefits on TAM as well.
Sadly TAM releases virtually no longhaul premium cabin award space, and even doesn’t release much space on shorthaul flights either. That’s in stark contrast to LAN, which is actually quite generous when it comes to releasing award space. Here’s to hoping that eventually they follow LAN’s lead!