LATAM Airlines fourth-quarter profit slides 95%

By Thomson Reuters Feb 22, 2024 | 3:28 PM

SANTIAGO (Reuters) -LATAM Airlines posted a 95% year-on-year fall in net profit in the fourth quarter, slipping to $84 million, the company said in a filing on Thursday.

The airline’s adjusted EBITDAR – earnings before interest, taxes, depreciation, amortization and restructuring or rent costs – increased in the quarter by 29.9% year-on-year to $675 million.

In December, LATAM projected record EBITDAR for this year of between $2.6 billion and $2.9 billion. The firm on Thursday maintained its estimates for 2024.

The Santiago-based carrier saw quarterly revenues rise 18.5% to $3.25 billion.

(Reporting by Kylie Madry and Fabian Cambero; Editing by Anthony Esposito)