LATAM Airlines Q1 net profit tumbles 43.8 pct to $42.7 mln

SANTIAGO Tue May 14, 2013 6:41pm EDT

SANTIAGO May 14 (Reuters) - LATAM Airlines Group SA's first-quarter net profit fell 43.8 percent from the year ago period when its earnings benefited from a foreign exchange gain, the company said on Tuesday.

The airline said in a statement to Chile's securities regulator that its net income fell to $42.7 million in the first three months of this year from $76.1 million in the same period of 2012.

A Reuters poll had forecast Latin America's largest carrier would post a 54.6 percent tumble in net profit to $38.2 million.

The carrier, the fruit of Chilean LAN's takeover of Brazil's TAM last year, has operations in Argentina, Brazil, Chile, Colombia, Ecuador and Peru.

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.