Airlines
Brazilian Government Clears the Way for Qatar Stake in Latam
Qatar Airways is buying a 10 percent holding in Latam.
A Boeing 767-300ER operated by Brazilian member of the Latam Group TAM taxis at Madrid's Barajas Airport. (Photo: Flickr: Creative Commons (BY-SA) by airlines470)
A Boeing 767-300ER operated by Brazilian member of the Latam Group TAM taxis at Madrid's Barajas Airport. (Photo: Flickr: Creative Commons (BY-SA) by airlines470)

Brazilian competition regulator Cade on Wednesday approved Qatar Airways’ purchase of a 10 percent stake in the Latam Airlines Group. The transaction involves a $613 million capital increase through the issuance of new shares at a price of $10 per share. The infusion will relieve financial pressure on the Latin American carrier, which has seen demand decline significantly during Brazil’s continuing recession.