LATAM Airlines reverses loss, posts $122m net profit in Q1

LATAM Airlines reported a first-quarter net profit of $121.8m, the company said on Wednesday, reversing a net loss of $380m in the year-ago period. The airline, created by the 2012 merger of Chile's LAN with Brazilian rival TAM, operates units in Chile, Brazil, Colombia and Peru. Revenue for Santiago-based LATAM during the quarter rose about 43.2% to $2.8b from the year-ago period, boosted by an increase in passenger revenue. Last November, LATAM announced the completion of a years-long restructuring process after it declared bankruptcy in 2020. The company's operating result reached $263m in the quarter, according to the airline. Meanwhile, LATAM'S total operational costs for the quarter stood at $2.54b.<br/>