LATAM Airlines Sees Pickup In Brazil

LATAM Airlines said it is seeing some pickup in the Brazilian market in July and August, following a worse-than-expected set of second-quarter results.

"I think it's too early to say there is a structural recovery in the level of yields, but we have seen some pickup in the last weeks of July and the first week of August, so we believe it could potentially be a trend," said TAM chief executive officer Claudia Sender.

Shares of the airline, which was formed in a merger between Chile's LAN and Brazil's TAM in 2012, have fallen to multiyear lows as Brazil's deteriorating economy led it to report weak results.