LATAM airlines reverses loss, posts USD 122 million net profit in Q1 – ET TravelWorld

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LATAM Airlines reported a first-quarter net profit of USD 121.8 million, the company said on Wednesday, reversing a net loss of USD 380 million 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 per cent to USD 2.8 billion 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 USD 263 million in the quarter, according to the airline.

Meanwhile, LATAM’S total operational costs for the quarter stood at USD 2.54 billion.

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