Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

LAN Airlines Q4 Profit Declines - Quick Facts

Chile-based LAN Airlines S.A. (LFL: Quote), Tuesday reported a 32 percent decline in profit for the fourth quarter, hurt by higher fuel prices and startup costs related to Colombia operations.

The Santiago, Chile-based company's net income dropped to $112.5 million, compared to $164.6 million last year.

Profit was hurt mainly by the costs related to startup of LAN's operations in Colombia as well as the ongoing effects of the volcanic ash cloud on domestic operations in Chile and Argentina. The 28.8 percent rise in fuel prices also negatively impacted the bottom line.

Meanwhile, LAN continued to generate traffic growth and yield increases in both passenger and cargo operations, as reflects revenue growth.

Total revenues for the quarter grew to $1.54 billion from $1.30 billion last year, helped by a 20.8 percent increase in passenger revenues and a 15.8 percent improvement in cargo revenues.

Analysts polled by Thomson Reuters expected earnings of $0.40 per share on revenues of $1.54 billion for the quarter. Analysts' estimates typically exclude special items.

Operating margin was dragged down to 11.0 percent from 16.2 percent last year.

Click here to receive FREE breaking news email alerts for LAN Airlines S.A. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
After moving modestly higher in morning trading, stocks showed a substantial move to the downside over the course of the trading day on Wednesday. The major averages pulled back well off their highs for the session, sliding firmly into negative territory. Ebola "czar" Ron Kain is scheduled to meet with President Barack Obama on Wednesday as he begins his efforts to coordinate the government's response to the deadly disease. Klain, who previously served as chief of staff to Vice President Joe Biden and then-Vice President Al Gore, was named as Ebola Response Coordinator last Friday. Potentially complicating the outlook for control of the Senate, the results of a SurveyUSA poll conducted for WXIA-TV in Atlanta suggest that the Georgia Senate race between Republican David Perdue and Democrat Michelle Nunn could be headed for a runoff.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.