LAN’s 2010 net income grows more than 80%

Washington DC
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Chilean airline group LAN has posted a 81.6% hike in its full-year 2010 net income to $419.7 million as its operating income grew 43% to $622.9 million.

The group's operating margin also increased 1.9 percentage points year-over-year from 11.9% to 13.8%.

LAN, which has subsidiaries in Peru, Ecuador and Argentina, reported a 49.9% increase in fourth quarter profits, posting a net income of $164.6 million as revenues grew from $1.1 billion to $1.3 billion. The company's passenger revenues increased 17.3% year-over-year while cargo revenues grew by 31.2%. Fourth quarter operating income at LAN also increased 10.7% to $210.7, but operating margin decreased to 16.2% versus 17.8% for the year prior.

LAN in late 2010 also acquired Colombian carrier Aires, and holds an option to purchase proposed Colombian start-up AerOasis.

Additionally, LAN is working to complete its merger with Brazilian carrier TAM in six to nine months.