Brazil’s TAM, Chile’s LAN airlines report plunge in first quarter profits

Posted on June 5, 2012 • Filed under: Brazil, Business, Chile, Latin America Aviation, TRAVEL

Brazil’s TAM and Chile’s LAN each reported a 22 percent plunge in first-quarter profits, citing rises in fuel costs and other expenses among other factors. Another Brazilian airline, GOL, laid off 1,200 people to cut costs. Aerolineas Argentinas continues to bleed money, receiving more than $200 million in subsidies during the first quarter of this year alone. Read Article

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