LAN Airlines revenue down 4%, operating profit down 11% in 4Q2009

LAN Airlines revenue down 4% - financial/traffic highlights:

• Three months ended 31-Dec-2009:
  • Total operating revenue: USD1,071 million, -4.0% year-on-year;
  • Total operating cost: USD880.4 million, -2.3%;
    • Fuel: USD264.0 million, -13.0%;
    • Labour: USD176.4 million, +21.0%;
  • Operating profit: USD190.3 million, -10.9%;
  • Net profit: USD109.8 million, +17.6%;
  • Passenger numbers: 4.2 million, +13.1%;
  • Cargo volume: 191,200 tonnes, +11.0%;
  • Load factor: 71.0%, +2.1 ppts;
    • Passenger load factor: 78.8%, +3.0 ppts;
  • Breakeven load factor: 60.3%, +2.7 ppts;
  • Passenger yield: USD 9.5 cents, -13.0%;
  • Cargo yield: USD 35.7 cents, -17.7%;
  • Passenger revenue per ASK: USD 7.4 cents, -9.6%;
  • Cargo revenue per ATK: USD 26.0 cents, -13.8%;
• 12 months ended 31-Dec-2009:
  • Total operating revenue: USD3,656 million, -14.7%;
  • Total operating cost: USD3,220 million, -12.1%;
    • Fuel: USD959.6 million, -30.9%;
    • Labour: USD636.7 million, +4.5%;
  • Operating profit: USD435.7 million, -29.7%;
  • Net profit: USD231.1 million, -31.3%;
  • Passenger numbers: 15.4 million, +16.3%;
  • Cargo volume: 649,200 tonnes, -1.8%;
  • Load factor: 68.0%, -1.7 ppt;
    • Passenger load factor: 76.9%, +0.3 ppt;
  • Breakeven load factor: 62.1%, +1.1 ppt;
  • Passenger yield: USD 8.8 cents, -16.0%;
  • Cargo yield: USD 34.1 cents, -24.8%;
  • Passenger revenue per ASK: USD 6.8 cents, -15.6%;
  • Cargo revenue per ATK: USD 23.4 cents, -27.8%. [more]

LAN Airlines: "Considering current market conditions, the Company expects passenger ASK growth to be approximately 10% in 2010. Growth in the passenger business is expected to be mainly driven by international and regional markets. During 2009, capacity in the cargo business declined 6.0%, mostly driven by a decrease in ACMI leases. LAN Cargo currently expects approximately 16%-18% growth in cargo capacity for 2010, driven mainly by higher utilization of the freighter fleet, especially the two Boeing 777 freighters received in the first half of 2009," Company statement. Source: LAN Airlines, 27-Jan-2010.