Mon Mar 17, 2014 7:32pm
Brazilian airline Tam's Airbus A320 takes off at Congonhas airport in Sao Paulo January 17, 2014.
Credit: Reuters/Nacho Doce
SANTIAGO (Reuters) – LATAM Airlines LAN.SN (LFL.N) posted a net loss of $46.1 million for the fourth quarter due to a drop in revenue and a foreign exchange loss stemming from the Brazilian real’s depreciation, the company said on Monday.
The loss was well short of forecasts for a $2.4 million profit in a Reuters poll.
The company, formed in mid-2012 when Chile’s flagship LAN took over Brazil’s TAM, posted a net loss of $69.8 million in the fourth quarter of 2012.