Salmon exports make up for weak imports at LATAM


Cargo revenue at LATAM Airlines increased by 2.5 per cent in the third quarter with Chilean salmon exports making up for weaker imports.

Third quarter revenue was $278.9 million, while revenue tonne kilometres (RTK) were up 2.6 per cent to 875 million, with capacity in available tonne kilometres (ATK) increasing by 3.9 per cent to 1.6 billion.

Load factors were down 0.7 percentage points to 53.5 per cent and yields based on RTK remained at 31.9 cents.

The strong growth in salmon exports from Chile was partially offset by a decline in the import markets due to weaker currencies in Brazil and Argentina.

In the first nine months of 2018, cargo revenue was up 11.8 per cent to $874.4 million, with ATK increasing 5.4 per cent to 4.8 billion and RTK by 6.9 per cent to 2.4 billion.

For LATAM Airlines Group, total revenue was down 5.8 per cent in the third quarter to $2.5 billion and net income down by 67 per cent to $52.9 million.

In the first nine months of 2018, total operating revenue was up 2.5 per cent to $7.6 billion and net income down by 62.2 per cent to $33.2 million.

Over on Easter Island, LATAM Cargo has renovated its warehouse and reopened it, in a ceremony attended by local dignitaries.

Structural changes were made to improve cargo services, focusing on enhancing the experience of the customers and inhabitants who utilise the services.

LATAM Cargo Group director of handling and ground operations, Matias Herceg Llodra says: “Every day, our team strives to provide a level of service that is up to the needs of the community. This new infrastructure confirms our commitment to that goal.”

A new warehouse was built to increase storage capacity and improve cargo delivery and reception times due to a more efficient design.

A number of changes were introduced such as the new maintenance shed gate, the relocation of the fuel tank and improvements to the racks and electrical system.