LATAM’s World Cup cargo woes
27 / 02 / 2015
REDUCED cargo demand during the football World Cup in Brazil contributed to LATAM Airlines Group’s net loss of US$58.9m in the second quarter of 2014, writes Thelma Etim, deputy editor.
Cargo revenues decreased by 12.7 per cent during the first six months of the year, as the group reduced capacity by 7.5 per cent and unit revenue declined by 5.5 per cent – mainly due to a 6.9 per cent decline in yields, “as cargo trends continue to be weak and competitive pressures from other cargo carriers persist,” says a company statement.
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