Qatar Airlines buys 10pc stake in LATAM

Santiago: Qatar Airways bought a 10 per cent stake in LATAM, the largest airline in Latin America, the Chilean-Brazilian company said. The investment, first announced last July, amounts to 60.8 million shares at a price of $10 each, LATAM said in a statement.
The airline — the product of a 2012 merger between Chile’s LAN and Brazil’s TAM — said Qatar’s arrival as a stakeholder “represents a unique opportunity to develop and explore new opportunities to connect with Asia and the Middle East.” The cash from Qatar’s flagship airline comes just in time for struggling LATAM, which lost $219 million in 2015 as Brazil, its main market, struggled through a deep recession. — AFP