LATAM Airlines, Latin America’s largest airline, reported on Tuesday that during the third quarter of this year it recorded a net loss of 691.9 million dollars, due to maintenance costs and the expenses of the restructuring it is carrying out due to the pandemic.
The company detailed in a statement that in the period it obtained revenues of 1,314 million dollars, which represents 50.7% less than what it achieved in the same period of 2019, before the global health emergency caused by the coronavirus.
→ Chile approves joint venture agreement between LATAM and Delta.
The revenue figure, however, represents an improvement of 47.8% compared to the second quarter of 2021 and 156.1% versus 2020, a year the company ended with a net loss of $4,545.9 million.
Meanwhile, cargo revenues posted a 43.6% increase in the third quarter of this year compared to the same period in 2019, reaching $361.4 million.
Regarding the operation, LATAM reached 49.7% of 2019 levels (measured in seat kilometers) in this last quarter, “driven by a strong recovery in its domestic operations and a 75% capacity increase compared to the second quarter of 2021,” according to the briefing note.
→ LATAM resume flights between Sao Paulo and Orlando in December.
The group said it expects to close the year operating above 65% consolidated capacity, in seat kilometers, versus 2019 levels.
Meanwhile, total costs reached US$1,793 million at the close of the period, representing a 25.2% drop compared to the third quarter of 2019.
Seat cost per kilometer without considering the fuel variable decreased 18.3% compared to the second quarter of this year, “despite higher maintenance costs and a slower recovery of the international operation”, reported EFE.
Photo: Carlos Daniel Dobelli/Wikipedia
Related Topics
SAS Resumes Flights to Greenland After More Than 20 Years: Direct Service from Copenhagen to Nuuk
Aena Presents Expansion Project for Malaga-Costa del Sol Airport
Air Canada Launches Seasonal Flights Between Montreal and Edinburgh
Spanish Court Temporarily Suspends Fines Against Ryanair and Norwegian for Hand Luggage Fees

Plataforma Informativa de Aviación Comercial con 13 años de trayectoria.