LAN’s lucrative first quarter
27 / 04 / 2011
LATIN American player LAN Airlines has recorded total revenues in the first quarter of 2011 at US$1.365 billion compared to $1.035 billion in the same period of 2010 due in part to a 30.2 per cent increase in cargo revenues. Cargo revenue accounted for 25.4 per cent of total revenues, during the quarter.
In the first three months of the year LAN successfully implemented measures in order to mitigate the impact of higher fuel prices on its operations. For the company higher fuel prices during the quarter, which increased 32.2 per cent compared to the first quarter 2010, generated $100.3 million in increased fuel costs.
Regarding the approval process for the transaction with TAM, on 20 April it was announced a public hearing will take place on 26 May in which the interested parties may provide their opinion regarding the business combination.
In line with LAN’s expansion during the first quarter the company received one 767-300F, mainly destined for growth on northbound routes.
Currently LAN Cargo and its respective affiliates have a fleet of 14 dedicated freighters.