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.
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