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.”
LATAM sees declining cargo traffic in first quarter