LATAM airlines reports $2.12b Q1 loss due to pandemic
LATAM Airlines had losses of $2.12b in Q1 after an accounting adjustment of its assets amid the coronavirus pandemic, the company said Friday. LATAM said its operational quarterly result was 17% higher year-on-year despite the fact that in March it reduced its offer of flights due to the first effects of the health crisis. The firm mainly attributed the loss to a goodwill impairment loss of $1.73b as a result of the pandemic, the statement said. “The accounting loss is a natural consequence of the impact that COVID-19 has had over the entire industry, where inevitably the assets of airlines are devalued due to the impossibility of operating,” CEO Roberto Alvo said. Revenue from ordinary activities fell 6.8% to $2.266b between January and March. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2020-06-01/oneworld/latam-airlines-reports-2-12b-q1-loss-due-to-pandemic
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LATAM airlines reports $2.12b Q1 loss due to pandemic
LATAM Airlines had losses of $2.12b in Q1 after an accounting adjustment of its assets amid the coronavirus pandemic, the company said Friday. LATAM said its operational quarterly result was 17% higher year-on-year despite the fact that in March it reduced its offer of flights due to the first effects of the health crisis. The firm mainly attributed the loss to a goodwill impairment loss of $1.73b as a result of the pandemic, the statement said. “The accounting loss is a natural consequence of the impact that COVID-19 has had over the entire industry, where inevitably the assets of airlines are devalued due to the impossibility of operating,” CEO Roberto Alvo said. Revenue from ordinary activities fell 6.8% to $2.266b between January and March. <br/>
