Latin America Outlook: Mexico the only bright spot in a sombre outlook

Economic pressures that emerged in Latin America during 2014 intensified during 2015, driven by the dire situation in Brazil, which is now moving from recession to depression. Once a powerhouse of the region, Brazil's economy contracted sharply in 2015. Additionally, the country's inflation soared and its currency has plummeted. Brazil's weakness has created ripple effects throughout South America, affecting all the large airline groups operating in the region.