LATAM Airlines has ‘moderately positive’ outlook on 2016 earnings-chairman

SANTIAGO, April 26 LATAM Airlines
, Latin America’s biggest airline has a “moderately
positive” outlook on its 2016 earnings, the chairman said on
Tuesday, citing more stable currencies in the region that will
help boost its bottom line.

Lower fuel costs would also help counteract weak demand in
Brazil, the biggest market for the airline, chairman Mauricio
Amaro told journalists after LATAM’s annual shareholder meeting
in Santiago.

“What gives us a little confidence is that currencies have
stabilized and the dollar has even weakened a little against the
(Brazilian) real. That leads us to continue to have a moderately
positive outlook for the 2016 results,” said Amaro.

A sharp depreciation in the real and other Latin American
currencies last year eroded the airline’s profits.

Amaro declined to specify if the company may make a profit
this year. Brazil’s weak economic performance has led the
airline to a net loss every year since 2012, when it was formed
in a merger between Chile’s LAN and Brazil’s TAM.

(Reporting by Felipe Iturrieta; Writing by Rosalba O’Brien;
Editing by Frances Kerry)

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Source URL:http://www.reuters.com/article/latam-airlines-outlook-idUSL5N17T6K0

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