|
|
|
|
Search: 
Latin American Herald Tribune
Venezuela Overview
Venezuelan Embassies & Consulates Around The World
Sites/Blogs about Venezuela
Venezuelan Newspapers
Facts about Venezuela
Venezuela Tourism
Embassies in Caracas

Colombia Overview
Colombian Embassies & Consulates Around the World
Government Links
Embassies in Bogota
Media
Sites/Blogs about Colombia
Educational Institutions

Stocks

Commodities
Crude Oil
US Gasoline Prices
Natural Gas
Gold
Silver
Copper

Euro
UK Pound
Australia Dollar
Canada Dollar
Brazil Real
Mexico Peso
India Rupee

Antigua & Barbuda
Aruba
Barbados
Cayman Islands
Cuba
Curacao
Dominica

Grenada
Haiti
Jamaica
Saint Kitts and Nevis
Saint Lucia
Saint Vincent and the Grenadines

Belize
Costa Rica
El Salvador
Honduras
Nicaragua
Panama

Bahamas
Bermuda
Mexico

Argentina
Brazil
Chile
Guyana
Paraguay
Peru
Uruguay

What's New at LAHT?
Follow Us On Facebook
Follow Us On Twitter
Most Viewed on the Web
Popular on Twitter
Receive Our Daily Headlines


  HOME | Brazil (Click here for more)

Brazilian Airline Cuts Flights, Staff amid Economic Slowdown

SAO PAULO – Brazilian airline TAM, partner with Chile’s LAN in Latam Airlines, announced Monday that it is reducing domestic operations by up to 10 percent and laying off 2 percent of staff as a result of the country’s economic crisis.

Brazil’s second-leading carrier in terms of market share said in a statement sent to securities regulators that the decision to trim operations responds to “the challenging economic scenario.”

“TAM takes these steps to deal with a difficult economic environment in Brazil, which imposes adjustments that will not be to the detriment of passengers and will further strengthen competitiveness,” airline president Claudia Sender said.

The company, she said, “continues believing” that Brazil will return to economic growth and the cuts will not have an impact on TAM’s “long-term strategies, which include renovation of its fleet.”

Brazil’s economy is struggling and private economists expect gross domestic product to shrink 1.7 percent this year, according to a survey released Monday by the Central Bank.

The government of President Dilma Rousseff has implemented a severe austerity plan that included drastic cuts in public spending and measures to increase tax collection.

The Brazilian unemployment rate climbed from 4.8 percent in December to 6.7 percent at the end of May, while a recent Central Bank report shows a 2.64 percent reduction of economic activity during the first five months of the year.

 

Enter your email address to subscribe to free headlines (and great cartoons so every email has a happy ending!) from the Latin American Herald Tribune:

 

Copyright Latin American Herald Tribune - 2005-2020 © All rights reserved