LATAM Reports Earnings

LATAM Airlines Group S.A. published its earnings report for the second quarter of 2019. The Santiago-based airline consortium includes subsidiaries in Argentina, Brazil, Chile, Colombia, Ecuador, Paraguay, and Peru. Between April and June, the combined group’s total revenues grew to $2.37 billion USD, up 0.5% year-on-year. It reported a $40.2 million operating income. For comparison, in the first quarter LATAM posted a $62.8 million operating loss.

The group carried 16.8 million passengers, 1.4 million more than it did in the same quarter of 2018. By the end of 2019, LATAM intends to grow its active operating fleet to 328 aircraft.

Quarterly cargo revenues fell 10.2% to about $270 million. The report cited the weakening of the Argentine Peso and the Brazilian Real as the cause of the cargo division’s lackluster results.

Source: LATAM