LATAM shareholders approve $1b capital increase

Washington DC
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Shareholders of LATAM Airlines Group have voted to approve a capital increase of $1 billion.

The capital will be raised through the issuance of 63.5 million ordinary shares, says LATAM.

The carrier, formed by a merger between Chile's LAN and Brazil's TAM, will use the capital to fund its fleet renewal plan in the coming years, it says.

LAN and TAM combined have almost 200 aircraft on order, Flightglobal's Ascend Online database shows.

LATAM is listed on the Bolsa de Santiago (Chile), Brazil's BM&F Bovespa and the New York Stock Exchange,