LATAM Airlines Commits $2 Billion Investment in Brazil

LATAM Airlines has announced a $2 billion investment in Brazil over the next two years. The funds will focus on passenger services, technology, and aircraft maintenance. Additionally, a Memorandum of Understanding has been signed with Brazil's labor ministry to train and hire workers at LATAM's Sao Carlos facility.

LATAM Airlines has pledged to invest $2 billion in Brazil, Latin America's largest economy, over the next two years.

The Chile-based airline aims to enhance passenger services, technologies, and aircraft maintenance with this funding. It has signed a Memorandum of Understanding with Brazil's labor ministry to train workers in specialty skills and employ them primarily at its Sao Carlos facility in Sao Paulo state.

LATAM's Sao Carlos facility is the largest aircraft maintenance center in South America and has the potential to become 'a true Brazilian aerospace hub.' The airline's CEO Roberto Alvo and other executives met with Brazilian President Luiz Inacio Lula da Silva to finalize these decisions. Additionally, LATAM is in advanced discussions with Brazilian plane maker Embraer to expand its fleet, as stated by the head of Brazil's state development bank BNDES last month.

(With inputs from agencies.)