On the third anniversary of the merger between LAN and TAM, LATAM Airlines has reported operating income of US$17.2 million with an operating margin of 0.7% for the second quarter 2015, an increase of 0.2 percentage points as compared to the year-ago period. This result was driven by a 20.7% reduction in the company’s cost per ASK equivalent, including the effect of lower fuel prices. Excluding fuel, cost per ASK equivalent decreased by 13.8%, reflecting efficiencies related to the airline’s cost savings plan, as well as the effect of local currency depreciations. Total revenues during the second quarter 2015 declined

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