LAN profits down nearly a third in 2009

CHILE’S main carrier LAN recorded a fall in net profit of 31 per cent to US$231 million in 2009. Profits for the fourth quarter was up 17.6 per cent to $109 million compared to $93 million the year before when the industry slump was at its worst.Revenues fell 14.7 per cent for the year to $3.6 billion from $4.2 billion in 2008. This drop improved slightly in the fourth quarter but it was still four per cent down from 2008 to $1 billion.Cargo revenues were down 10.7 per cent, accounting for 26 per cent of LAN’s total revenues during the last quarter.

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