SANTIAGO, Nov 6 (Reuters) - LATAM Airways LTM.SN, the continent's largest service, mentioned on Fri
SANTIAGO, Nov 6 (Reuters) – LATAM Airways LTM.SN, the continent’s largest service, mentioned on Friday it misplaced $573 million within the third quarter, as the corporate continues a chapter restructuring course of that began in Could due to the coronavirus pandemic.
Income fell 81% within the quarter in comparison with a 12 months in the past.
The outcomes “should not a shock given the context,” mentioned LATAM’s Chief Monetary Officer Ramiro Alfonsin in a name with reporters. Like most airways world wide, LATAM’s home flights are recovering at quicker tempo than worldwide routes after months of financial restrictions imposed to curb the virus.
Up to now this 12 months LATAM has reported a web lack of $3.6 billion.
The airline additionally burned by means of greater than $200 million in money between July and September, though in October it mentioned it received entry to contemporary liquidity as a part of its Chapter 11 restructuring.
(Reporting by Fabian Cambero; enhancing by Grant McCool)
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