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LAN Airlines Reports 50 Percent Increase in 4Q Profits

Chile’s LAN Airlines reported a 50 percent gain in fourth-quarter profits to $165 million.

 

The robust quarter came as a result of increased passenger and cargo traffic.

 

The airline overcame some obstacles in the quarter, including a labor dispute in Argentina which briefly shut down the Buenos Aires airport.

 

While traffic declined in Argentina, it increased almost everywhere else, closing up 17 percent overall for the quarter.

 

Earnings for the carrier increased by nearly 82 percent on the year. That marks an impressive recovery for the airline which struggled slightly in 2009.

 

A merger with Brazil’s TAM Airlines is on the horizon for 2011, pending approval from shareholders and government regulators.

 

Source: Bloomberg

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