UPDATE 1-Chile's LATAM Airlines posts $63M loss, dragged by Argentina recession [Reuters]
LATAM AIRLINES GROUP SA (LTM)
US:NYSE Investor Relations:
latamairlinesgroup.net
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Source: Reuters
UPDATE 1-Chile's LATAM Airlines posts $63M loss, dragged by Argentina recession - Reuters 2 Min Read (Adds details from earnings report) Aug 13 (Reuters) - Chile’s LATAM Airlines Group, South America’s largest airline, posted a narrower loss of $63 million in the second quarter, boosted by growing revenue in Brazil but dragged down by a recession in Argentina. The loss was a significant reduction compared to the same period last year, when it posted a $206 million loss, at the time dragged down by a weak currency in Brazil and a truck drivers strike. The domestic air travel market in Brazil became more concentrated in the quarter after Avianca Brasil ceased operations in late May following a bankruptcy filing. This has left Brazil with just three major airlines competing for domestic flights. LATAM, which ranks as the No. 2 airline in Brazil, was widely expected to benefit from Avianca Brasil’s demise. Its revenue in Brazil grew almost 20% to $878 million between April and June, compa
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