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LAN Airlines (Santiago) reported net income of $231.1 million for full year 2009. Net income declined 31.3% compared to full year 2008.

For the full year 2009 LAN’s operating margin reached 11.9%, a decrease of 2.6 points compared to the 14.5% operating margin achieved in 2008. Operating income amounted to $435.7 million in 2009, a 29.7% decrease compared to operating income of $619.8 million in 2008. Operating income for 2009 includes a $128.7 million loss related to fuel hedging.

LAN’s fourth quarter 2009 results reflect a strong recovery in both cargo and passenger operations. During the period, LAN reported net income of $109.8 million, a 17.6% increase compared to net income of $93.3 million reported in the fourth quarter 2008.

Full press release:

finance.yahoo.com/news/LAN-Airlines-Reports-Net-prnews-1979454043.html?x=0&.v=98