With the merger of two of South America's largest airlines -- Chile-based LAN and Brazil's TAM -- to create the LATAM group, what's the impact on Qantas travellers and especially Qantas Frequent Flyers?

The big win will be LATAM's expected alignment with the oneworld airline alliance, of which Qantas is of course a key member.

TAM will abandon its current affiliation with Star Alliance, according to Brazil's Folha de S. Paulo newspaper.

"We are carefully evaluating this issue and hope to make a decision within the next months and within the deadline set by the authorities, which expires at the end of 2014," LATAM said in a statement.

LAN flies from Australia to Santiago via Auckland. Qantas is LAN's oneworld alliance partner, with flights between Sydney and Santiago and connections onward from there.

If TAM also joins oneworld, that makes much of South America ripe for earning Qantas points.

As the merger rolls on, make sure you check your LAN flight's operating airline -- if it's a LAN booking with an LA number but on a TAM plane, you may not earn the Qantas points you expected.