Advertisement
Singapore markets closed

  • Straits Times Index

    3,410.81
    -29.07 (-0.85%)
     

  • Nikkei

    40,912.37
    -1.28 (-0.00%)
     

  • Hang Seng

    17,799.61
    -228.67 (-1.27%)
     

  • FTSE 100

    8,203.93
    -37.33 (-0.45%)
     

  • Bitcoin USD

    57,576.27
    +1,039.45 (+1.84%)
     

  • CMC Crypto 200

    1,191.83
    -16.86 (-1.40%)
     

  • S&P 500

    5,567.19
    +30.17 (+0.54%)
     

  • Dow

    39,375.87
    +67.87 (+0.17%)
     

  • Nasdaq

    18,352.76
    +164.46 (+0.90%)
     

  • Gold

    2,399.80
    +30.40 (+1.28%)
     

  • Crude Oil

    83.44
    -0.44 (-0.52%)
     

  • 10-Yr Bond

    4.2720
    -0.0830 (-1.91%)
     

  • FTSE Bursa Malaysia

    1,611.02
    -5.73 (-0.35%)
     

  • Jakarta Composite Index

    7,253.37
    +32.48 (+0.45%)
     

  • PSE Index

    6,492.75
    -14.74 (-0.23%)
     

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

Reuters
·1-min read
FILE PHOTO: A passenger plane arrives at the Arturo Merino Benitez International Airport in Santiago

(Reuters) - LATAM Airlines reported a first-quarter net profit of $121.8 million, the company said on Wednesday, reversing a net loss of $380 million in the year-ago period.

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.

(Reporting by Noe Torres and Carolina Pulice; Editing by Brendan O'Boyle)