LATAM announces downward revision in operating margin estimate due to World Cup demand hit

LATAM Airlines Group announced (18-Jul-2014) a downward revision in its operating margin estimate for FY2014 to 4-5%, down from a previous estimate of 6-8%, due to the negative impact on corporate and tourism demand from the 2014 FIFA World Cup. LATAM estimates an impact of USD140-160 million on operating margin from the tournament as a result of decreased revenue. The revision also takes into account weaker macroeconomic conditions in Latin America, and the carrier noted it has managed this challenge by reducing capacity. [more - original PR - Spanish]