Shareholders of LATAM Airlines have approved a $1 billion capital increase to fund its fleet overhaul. The deal, which comprises the issuance of up to 63.5million shares, is expected to close around September 25. LATAM has confirmed that it plans to spend around $11 billion to add some 165 aircraft to its fleet by 2017. Executive Vice President Enrique Cueto hopes that new measures to overhaul LATAM will help the airline regain its investment grade credit rating in 2015.

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