LAN revenue up 25.6%, operating profit up 70% in 3Q2010

LAN revenue up 25.6% - financial highlights for the three months ended 30-Sep-2010:

• Revenue: USD1,152 million, +25.6% year-on-year;
• Operating costs: USD995.7 million, +20.7%;
  • Fuel: USD294.0 million, +21.4%;
  • Labour: USD203.5 million, +25.2%;
• Operating profit: USD156.6 million, +69.5%;
• Net profit: USD106.2 million, +103.9%;
• Passenger numbers: 4.5 million, +15.2%;
• Load factor: 78.9%, +1.9 ppt;
• Passenger yield: USD 9.2 cents, +4.8%;
• Passenger revenue per ASK: USD 7.3 cents, +7.4%;
• Cargo volume: 194,000 tons, +16.4%;
• Cargo yield: USD 40.5 cents, +25.6%;
• Cargo revenue per ATK: USD 27.8 cents, +25.5%;
• Total assets: USD6,187 million, +13.3%;
• Cash and cash equivalents: USD586.8 million, -8.0%;
• Total liabilities: USD4,974 million, +11.9%;
• Net debt: USD2,627 million, +12.5%. [more]

LAN: "Considering current market conditions, the Company maintains its expectations for passenger ASK growth of approximately 10% in 2010 and between 15% and 17% for 2011, mainly driven by the net delivery of 18 passenger aircraft. LAN Cargo currently expects approximately 20% growth in cargo capacity for 2010, mainly driven by higher utilization of the freighter fleet, especially the 2 Boeing 777-200 freighters received in the first half 2009. For 2011, LAN Cargo expects between 13% and 15% growth in capacity, mainly driven by the delivery between December 2010 and February 2011 of 3 Boeing 767F freighters," Company statement. Source: LAN< 27-Oct-2010.