LATAM swings to US$86m profit after slashing international capacity

Capacity cuts to international markets and improved performance in Brazil helped push LATAM Airlines Group's profit up 50% year-over-year in Q3 to US$86.3m. The profits follow a troubling first half of 2019 for LATAM. The airline racked up nearly $123m in losses during the first 6 months of the year. "This improvement reflects a proactive capacity management across our international markets and healthy domestic demands," says LATAM CFO Ramiro Alfonsin, during the company's earnings call Wednesday. "Capacity adjustments in our international markets are bearings results." The results come despite notable challenges in several countries in which LATAM operates, including Argentina and LATAM's home country of Chile. Social unrest in Chile will likely cost the airline company $30m in Q4, it predicts. <br/>