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Andres Bianchi, CEO of LATAM Cargo, is facing a conundrum: his customers are increasingly looking beyond the reach of the carrier’s network.

Latin America’s exporters, from salmon farms in Chile to produce growers across the region, are moving a rapidly growing portion of their cargo to Asia, notably China.

According to one estimate, more than 86% of Chile’s cherry exports went to Asia last year, with China, now Latin America’s third-largest export market, taking 82%.

However, LATAM’s freighters do not cross the Pacific and its passenger ...

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