LATAM Airlines Group records losses as balance sheet clean-up and fleet renewal continues

Latin American powerhouse LATAM Airlines Group recorded losses for 4Q2013 and FY2013 driven in part by continuing currency fluctuations in Brazil and other markets in Latin America.

Brazil's currency devaluation has dogged LATAM for much the past year even as the company has taken steps to minimise its balance sheet exposure to the weak BRL, and by YE2013 it had reduced its risk by half compared to the year prior.

LATAM's ongoing efforts to minimise risks posed by varying exchange rates and a fleet overhaul are creating some flux for the carrier throughout 2014; but the company assures it is meeting its overall synergy goals estimated by the merger of LAN and TAM, and remains committed to balance sheet improvement.