LATAM Cargo revenues slide as economic uncertainty takes its toll
15 / 08 / 2019
LATAM Cargo saw its revenues decline the second quarter of the year, partly as a result of weaker demand in South America.
The Santiago-headquartered airline reported a 10.2% year-on-year decline in second quarter cargo revenues to $269.3m.
Cargo volumes, meanwhile, declined by 4.6% compared with a year ago to 220,000 tonnes, but the cargo load factor was up 0.9 percentage points to 55.8%.
The revenue result was partly affected by the sale of MasAir in the second half of last year, which reduced cargo revenues by around $10m.
“Import markets continued to show declines year-over-year, especially to Brazil and Argentina driven by weaker currencies and general economic uncertainty,” the airline said
“On the other hand, export markets continue improving, especially salmon from Chile.”
