Chilean operator LAN posted a strong improvement in its second quarter financial performance, growing net income to $60.6 million versus $4.2 million the year prior.
But it is roughly a $28 million decline from the $88.3 million net income LAN recorded during the first quarter of this year.
LAN during the second quarter strengthened its operating income to $112.6 million compared with $35 million for the previous year, which resulted in a 10.9% operating margin. During the second quarter of 2009 LAN recorded a $52.6 million fuel hedging loss.
Revenues for the second quarter were $1 billion versus $785 million for the year prior as LAN's passenger revenues jumped 24.5% and cargo revenues grew by 60.3%.
LAN recently signed a memorandum of understanding with Airbus to acquire 50 A320 family aircraft scheduled for delivery between 2012 and 2016.