Wednesday , June 23 2021

Latem's airline company reports a $ 52.9 million profit in the third quarter



After a "challenging" third quarter, a company operating around 140 destinations in 25 countries highlighted the good results of a new sales model that was implemented in 2017 on domestic markets, enabling the traveler to choose the tariff type for food services. and luggage.

LATAM, the largest airport in Latin America, reported on Tuesday earning $ 52.9 million in the third quarter of the year, 49.1% below profit for the same period of 2017 due to exchange rate fluctuations and fuel price increases.

Likewise, the Airline Giant announced that it "redesigned its fleet plan even more, achieving a $ 2.3 billion reduction in commitments for the period 2018-2021, which equals a 41% reduction in total liabilities." Fleet for that period, "says the letter published in Santiago.

The net result of the aviation company "reached $ 52.9 million in the third quarter, $ 107.7 million less than in the same period last year, which is $ 126 million less than the exchange rate."

Meanwhile, the operating margin was 7.0%, which is 2.2% less than the result for the period from July to September 2017.

The drop "is mainly explained by an increase of USD 185.0 million fuel costs, as well as lower revenues mainly due to devaluation of Brazilian reality of 24.9% and devaluation of Argentinean weight of 84.6%, "the company explained.

After the "challenging" third quarter, the company that operates 140 destinations in 25 countries He highlighted the good results of a new sales model implemented in 2017 on domestic markets, enabling the traveler to choose a type of ticketing for services offered in food and luggage.

In the first quarter of this year, Latam recorded a profit of $ 93.9 million, while in the second year it recorded a loss of 114 million.


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