SANTIAGO Jan 10 Regional carrier LATAM Airlines
on Friday raised $156 million by selling shares
that were not snapped up in a recent offering intended to
The company, the fruit of Chilean airline LAN's 2012
takeover of Brazil's TAM, offered 10.3 million shares in a local
That means LATAM has raked in a total of $940 million to
help finance its investment plan.
LATAM had had a preferential capital increase period that
wrapped up in December that took in roughly $784 million, but
this amount fell short of the roughly $1 billion the company was
seeking to raise.
The region's largest carrier is seeking to bolster its
finances and achieve the margins it enjoyed before the merger.
Weakness in the Brazilian market has hurt LATAM's operating
margins, but third quarter results suggest the carrier is
turning the corner.