LATAM Airlines Group SA aims to launch a capital increase at the end of the third quarter and its controllers intend to subscribe their respective proportional stakes in the operation, the company said during a conference call on Wednesday. Latin America's largest carrier will ask shareholders on June 11 to approve the $1 billion increase aimed at helping to finance its spending plans over the coming years and regain its investment grade. "Regarding the timing for the capital increase, we would target at this point definitely towards the end of the third quarter... it would be probably September-October this year," said Gisela Escobar, LATAM's head of investor relations. The company is the fruit of Chilean airline LAN's takeover of Brazil's TAM in June. Following the takeover, Fitch Ratings lowered LATAM's ratings on global debt to "BB plus" from "BBB," citing the carrier's high debt levels and constrained cash holdings follow