LATAM Posts 2015 Net Loss Of $219.3m

LATAM Airlines has reported a net loss of $219.3m for 2015, nearly doubling the $109.8m net loss it posted for the previous year.

LATAM Airlines has reported a net loss of $219.3m for 2015, nearly doubling the $109.8m net loss it posted for the previous year.

The airline group, parent company of Brazil’s TAM and Chilean carrier LAN Airlines, cited the economic weaknesses in Brazil as a factor behind its third consecutive annual loss in full-year results released on Tuesday (March 8).

To counter losses, Santiago-based LATAM has targeted a 40 per cent reduction in its fleet spending by 2018 and confirmed capacity cuts on certain flights between Brazil and the US.

As part of the reduction, LATAM sold four A330s while redelivering three of the same aircraft along with four A320s and one 767.

 

 

 

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