Wednesday, 21 November 2018

LATAM's profits down

The biggest airline group in Latin America, LATAM Airlines released its latest figures which showed a big fall profit, down to $53 million for the third quarter, as opposed to  $160 million a year earlier.

The carrier says the reasons for the massive dip in profits include much lower passenger demand in both Argentina and Brazil, higher fuel prices and competition from low-cost airlines.  In October the airline saw passenger traffic increase by 1.5%, while capacity rose by 7.0%. As a result, the Company's load factor for the month fell 4.4 percentage points to 82.5%. International passenger traffic accounted for approximately 56% of the month's total passenger traffic.