LATAM Airlines posts loss pressured by strong dollar, Argentina's recession [Reuters]
LATAM AIRLINES GROUP SA (LTM)
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latamairlinesgroup.net
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Source: Reuters
LATAM Airlines posts loss pressured by strong dollar, Argentina's recession - Reuters 2 Min Read SANTIAGO/SAO PAULO (Reuters) - Chile’s LATAM Airlines , the largest airline in the region, posted on Thursday a $60 million loss in the first quarter, compared with a $92 million profit in the same period last year, due to a strong U.S. dollar and weak demand from Argentina. The airline said in a securities filing it was reducing its forecast for growth in its international flights to a maximum of 2% growth, compared with a previous guidance of between 3% and 5%. In Brazil, however, which is LATAM’s largest domestic market, the airline said it was raising its forecast for capacity growth to between 5% and 7% due to the crisis facing its competitor Avianca Brasil, which is undergoing a bankruptcy protection process. Still, growth in Brazil is unlikely to offset lower growth in international flights, which brings in over 50 percent of the airline’s total revenue, twice the current value of t
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