LATAM Airlines reports wider than forecast loss
LATAM Airlines reported a wider-than-forecast net loss in Q2 of $92m, as it struggles to overcome tough economic conditions in its key markets.<br/>Analysts had expected a $20m loss, according to a Reuters forecast. The airline made a loss of $50m in the same period a year ago, a quarter that is traditionally weak for seasonal reasons. Sales for the second three months of 2016 were $2.1b, down from $2.4b a year ago. In the first six months, the airline made a $10m profit. LATAM has racked up repeated losses since it was formed in the 2012 merger of Chile's LAN and Brazil's TAM, hamstrung by Brazil's economic problems and negative currency effects. It has said that any recovery in its bottom line will depend on a turnaround in Brazil, currently mired in deep recession. The macroeconomic environment remained "challenging", the company said Thursday. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-08-15/oneworld/latam-airlines-reports-wider-than-forecast-loss
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LATAM Airlines reports wider than forecast loss
LATAM Airlines reported a wider-than-forecast net loss in Q2 of $92m, as it struggles to overcome tough economic conditions in its key markets.<br/>Analysts had expected a $20m loss, according to a Reuters forecast. The airline made a loss of $50m in the same period a year ago, a quarter that is traditionally weak for seasonal reasons. Sales for the second three months of 2016 were $2.1b, down from $2.4b a year ago. In the first six months, the airline made a $10m profit. LATAM has racked up repeated losses since it was formed in the 2012 merger of Chile's LAN and Brazil's TAM, hamstrung by Brazil's economic problems and negative currency effects. It has said that any recovery in its bottom line will depend on a turnaround in Brazil, currently mired in deep recession. The macroeconomic environment remained "challenging", the company said Thursday. <br/>
