Brazil rebound boosts LATAM Airlines traffic in August, shares climb

The passenger volume of carrier LATAM Airlines rose 2.3% year-over-year in August, the company said late on Thursday, potentially marking a turning point for demand in Brazil, the largest market for the Santiago-based company. LATAM said Brazilian domestic volume rose 3.4% in August, the first positive reading after two years of contraction in a sign of economic recovery after a long recession. In the year through August, Brazil’s passenger volumes were down 6.2%. “We’re seeing growth in the Brazilian market, which contrasts with the decline accumulated up until now, indicating a modest recovery,” Santiago brokerage Bci said in a note on Friday.<br/>