There is an article about TAM in the current edition of BTW (Business Travel Week).

It says that TAM is about about to commence services to Europe. Initially Paris.

There is a comparison of major Latin American carriers which ranks business class as follows:

1) Iberia
2) Aerolineas Argentina
3) TAM

I don't agree with this ranking myself, but that all three airlines have re-launched their front-end service recently, so it is hard to tell.

There is without doubt a battle going on though.

Nick