Latam Airlines Group passenger revenue increased
6.9 percent year over year in the fourth quarter, the first quarter to show
year-over-year growth in more than two years. The company noted that traffic among
its Spanish-speaking country affiliates—Latam Airlines in Chile, Peru,
Argentina, Colombia and Ecuador—increase 6.9 percent even as domestic traffic
in Brazil declined. Total capacity declined 0.8 percent due to a 10.9 percent
reduction in domestic capacity within Brazil. Domestic capacity in the
Spanish-speaking countries and on international routes rose, though the carrier
has continued to reduce capacity between Brazil and the U.S. For the full year,
Latam reported a net income of $69.2 million, its first profit since 2011. The
company posted a $219.3 million net loss in 2015.