LAN Airlines revenue up 32%, operating profit up 7% in 1Q2011

LAN Airlines revenue up 32% - financial/traffic highlights for the three months ended 31-Mar-2011:

• Total operating revenue: USD1365 million, +31.9% year-on-year;
• Operating costs: USD1212 million, +35.8%;
  • Fuel: USD389.9 million, +43.5%;
  • Labour: USD238.2 million, +34.6%;
• Operating profit: USD153.3 million, +7.3%;
• Net profit: USD97.2 million, +10.1%;
• Average sector length: 1767 km, -11.1%;
• Passenger numbers: 5.5 million, +35.5%;
• Passenger load factor: 80.9%, +1.6 ppt;
• Passenger yield: USD 10.0 cents, +9.5%;
• Passenger revenue per ASK: USD 8.1 cents, +11.7%;
• Cargo volume: 205,000 tons, +18.0%;
• Cargo load factor: 67.9%, -0.8 ppt;
• Cargo yield: USD 40.7 cents, +11.7%;
• Cargo revenue per ATK: USD 27.6 cents, +10.4%;
• Total assets: USD6899 million, +1.7% when compared with period ended 31-Dec-2010;
• Total liabilities: USD5500 million, +0.3% when compared with period ended 31-Dec-2010. [more]

LAN: "Considering the changes in market conditions while facing a higher fuel scenario, the Company is lowering its expected passenger ASK growth in 2011 from between 20% and 22% to between 16% and 18%. Such growth is driven by the net delivery of 18 passenger aircraft and the incorporation of AIRES' operations. LAN Cargo's expected cargo ATK growth in 2011 remains between 16% and 18%, mainly driven by the delivery of three Boeing 767-300F freighters between November 2010 and January 2011," Company statement. Source: LAN, 26-Apr-2011.