LTM LATAM Airlines Group SA

SAO PAULO--Multiplus, the customer loyalty program spun off from Brazil airline Tam, said Friday that its board approved payment of up to 500 million Brazilian reais ($244 million) to Tam for air travel tickets yet to be purchased.

Multiplus also approved a budget for 2013, but the details of the spending plan weren't published. Multiplus also didn't publish details of the BRL500 million it will pay Tam.

Tam merged with Chile's Lan earlier this year to form Latam Airlines Group (LAN.SN), Latin America's biggest airline.

Write to Paulo Winterstein at paulo.winterstein@dowjones.com