Latam Airlines turns around as margins improve
It posts US$52m Q3 profit after US$49m loss a year earlier
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[SANTIAGO] Latam Airlines swung to a net profit for the third quarter and improved its operating margin in a sign the region's biggest airline, battered by weakness in its Brazilian market, has started to turn the corner.
The company - formed in mid-2012 when Chile's flagship LAN took over Brazil's TAM - reported a net profit of US$52 million for the three months to September, in line with forecasts in a Reuters poll for a US$47 million profit.
For the same period a year ago, Latam posted a US$49 million loss, according to the company's revised figures.
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