LATAM Airlines swings to Q3 profit
LATAM Airlines swung to a small Q3 profit on improved revenue and continuing cost reduction. Net income of US$4.7m compared to a net loss of US$113.3m for the same period last year. Operating income saw a 26.3% rise to US$120.6m. Revenue edged up 0.2% to US$2.52b, its first revenue increase for eleven quarters. LATAM reduced domestic capacity in Brazil by 13.2% and saw a rise in revenue per available seat km of 8.6% as a result. Capacity on Brazil-US routes in the quarter to end September was reduced by almost a third, but overall international capacity rose by 4.9%. Load factor came in 0.9 percentage points higher at 84.8%. LATAM announced changes in its six domestic markets where it will move to a lower cost model, reduce fares and introduce fees for extras.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-11-11/oneworld/latam-airlines-swings-to-q3-profit
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LATAM Airlines swings to Q3 profit
LATAM Airlines swung to a small Q3 profit on improved revenue and continuing cost reduction. Net income of US$4.7m compared to a net loss of US$113.3m for the same period last year. Operating income saw a 26.3% rise to US$120.6m. Revenue edged up 0.2% to US$2.52b, its first revenue increase for eleven quarters. LATAM reduced domestic capacity in Brazil by 13.2% and saw a rise in revenue per available seat km of 8.6% as a result. Capacity on Brazil-US routes in the quarter to end September was reduced by almost a third, but overall international capacity rose by 4.9%. Load factor came in 0.9 percentage points higher at 84.8%. LATAM announced changes in its six domestic markets where it will move to a lower cost model, reduce fares and introduce fees for extras.<br/>
