LATAM doubles Q3 operating profit

Washington DC
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LATAM Airlines Group more than doubled its third quarter operating profit to $255 million, compared with $105 million a year ago.

Operating revenues rose 0.6% to $3.36 billion for the three months ended 30 September and expenses declined 4% to $3.11 billion.

The carrier posted a net profit of $52.1 million for the quarter, reversing from a net loss of $49.2 million in the corresponding quarter in 2012.

Passenger traffic grew 1.9% in the quarter and passenger capacity was up 0.4%. The airline's load factor grew 1.2 percentage point to 82.4%. LATAM's revenue per available seat kilometre grew 0.4% to 8.6 cents, and yields fell 1.1% to 10.4 cents.

During the quarter, LATAM received eight Airbus A320s, two Boeing 777-300s and one Boeing 787-8. It returned two Bombardier Dash 8-200s, one Bombarrdier Dash 8-Q400, two Boeing 767-300s, one A320-200 and sold two Airbus A318s. The carrier closed the quarter with a fleet of 339 aircraft.