LATAM Airlines reverses loss, posts $122 million net profit in Q1

This post was originally published on this site

https://i-invdn-com.investing.com/trkd-images/LYNXMPEJ4301E_L.jpg

The airline, created by the 2012 merger of Chile’s LAN with Brazilian rival TAM, operates units in Chile, Brazil, Colombia and Peru.

Revenue for Santiago-based LATAM during the quarter rose about 43.2% to $2.8 billion from the year-ago period, boosted by an increase in passenger revenue.

Last November, LATAM announced the completion of a years-long restructuring process after it declared bankruptcy in 2020.

The company’s operating result reached $263 million in the quarter, according to the airline.

Meanwhile, LATAM’S total operational costs for the quarter stood at $2.54 billion.