Latam Airlines Group's passenger revenues declined 5.3 percent year over year to $2.11 billion in the third quarter. Traffic was up 2.1 percent amid a 5.9 percent increase in capacity, pushing load factor down 3.1 percentage points to 82.5 percent. Latam said it was a "challenging third quarter" with higher fuel costs, up 32.9 percent year over year, and "accelerated devaluation" of currencies in Brazil and Argentina. Latam reported a net income of $52.9 million for the quarter, down 67 percent year over year.