9-Mar-2016 3:15 PM
LATAM Airlines Group reports sharp profit declines in 4Q2015
LATAM Airlines Group revenue down 23% - financial highlights:
- Three months ended 31-Dec-2015:
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- Total operating revenue: USD2407 million, -22.5% year-on-year;
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- Passenger: USD1976 million, -21.8%;
- Cargo: USD334.9 million, -26.8%;
- Total operating costs: USD2258 million, -20.4%;
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- Fuel: USD573.2 million, -43.4%;
- Labour: USD461.6 million, -12.3%;
- Operating profit: USD149.2 million, -44.1%;
- Net profit (loss): (USD16.3 million), compared to a profit of USD98.3 million in p-c-p;
- Passenger numbers: 17.2 million, -3.5%;
- Passenger load factor: 82.9%, -0.9 ppt;
- Passenger yield: USD 6.9 cents, -23.6%;
- Passenger revenue per ASK: USD 5.7 cents, -24.4%;
- Cargo volume: 288,000 tons, -1.1%;
- Cargo yield: USD 33.5 cents, -15.4%;
- 12 months ended 31-Dec-2015:
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- Total operating revenue: USD10,126 million, -18.8%;
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- Passenger: USD8411 million, -19.0%;
- Cargo: USD1329 million, -22.4%;
- Total operating costs: USD9612 million, -19.6%;
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- Fuel: USD2651 million, -36.4%;
- Labour: USD2073 million, -11.8%;
- Operating profit: USD513.9 million, +0.1%;
- Net profit (loss): (USD219.3 million), compared to a loss of USD109.8 million in p-c-p;
- Passenger numbers: 67.8 million, stable;
- Passenger load factor: 83.0%, -0.3 ppt;
- Passenger yield: USD 7.5 cents, -21.1%;
- Passenger revenue per ASK: USD 6.3 cents, -21.4%;
- Total assets: USD18,101 million;
- Total liabilities: USD15,164 million. [more - original PR]
LATAM Airlines Group: "We expect 2016 will be a challenging year for Latin American markets in general. In this context, we are permanently evaluating opportunities to rationalize capacity throughout our network, especially in Brazil. We are convinced that cost efficiencies are critical and, as we aggressively pursue cost savings initiatives, we seek to maintain the passenger experience at the centre of our strategic decision making. Furthermore, we continue to pursue opportunities to reduce capital expenditures, while maintaining at all times adequate liquidity levels." Source: Company statement, 08-Mar-2016.