LATAM reports improving cargo business, but still suffers Q2 net loss
Cargo operations continued to be a bright spot for the LATAM Airlines Group, which reported second-quarter cargo-related revenues of just under US$300 million, due to a 3.6 percent increase in cargo revenues and a 6.7 percent rise in yields. However, it was not enough to counteract to the 86.6 percent, year-over-year, decline in Q2 operating income (EBIT), which totaled just $6.5 million.
The Chilean carrier blamed much of the disappointing results on a steep rise in aircraft fuel costs, as well as the effects of crippling strikes in Chile and Brazil, which contributed to a net quarterly loss of $113.6 million.
For more details, please see the report by Deputy Editor Caryn Livingston in our sister publication, Cargo Facts:
https://cargofacts.com/latam-reports-2q-net-loss-despite-improving-cargo-ops/
