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UPDATE 1-Chile LAN Q1 net down 21.8 pct yr/yr to $76.07 mln
2012年5月11日 / 晚上10点48分 / 6 年前

UPDATE 1-Chile LAN Q1 net down 21.8 pct yr/yr to $76.07 mln

SANTIAGO, May 11 (Reuters) - Chile's LAN Airlines 
 said on Friday its first quarter net profit plunged 21.8
percent on the year to $76.07 million, citing rising fuel
prices, costs related to development of its business in Colombia
and a more challenging cargo scenario.	
    First-quarter earnings came in slightly above the median
forecasts of analysts polled by Reuters, who expected a 22.3
percent fall from a year earlier to $75.5 million.
    The Chilean carrier is poised to complete its takeover of 	
Brazil's TAM  by the end of the first half of
2012, creating one of the world's biggest airlines. Regulators
in Chile and Brazil have approved the deal.	
    LAN launched a share swap offer on Thursday that would
complete its takeover of TAM to create LATAM Airlines Group, the
largest carrier in Latin America and one of the world's biggest
    "This quarter's results were affected by a 14.7 percent
increase in fuel prices, a more challenging scenario for the
cargo business, as well as the development of LAN Colombia's
operations," LAN said in its earnings statement.  	
    Earnings before interest, tax, depreciation and 	
amortization (EBITDA) fell 13.1 percent in the first quarter to
$217.7 million. Revenue from ordinary activities rose 13.7
percent in the quarter to $1.506 billion.  	
    LAN, one of the few investment grade airlines in the world, 	
has seen its operational income rise in tandem with an
aggressive expansion.	
    The Chilean carrier's full-year net profit fell nearly 24
percent in 2011 to $320 million, and fourth-quarter profit
plunged 31.6 percent to $112.5 million on flight disruptions due
to an ash cloud spewed by an erupting volcano in Chile,
restructuring costs in Colombia and higher fuel prices.
    LAN, headquartered in Santiago, has domestic passenger
operations in Argentina, Colombia, Chile, Ecuador and Peru and
cargo operations in those same countries plus Brazil and Mexico.

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