LATAM Airlines Group (LAN Airlines and TAM Linhas Aereas) (Santago and Sao Paulo) reported it lost $330 million in the second quarter. The group was created last year with the merger of the two airlines. The group is struggling in Brazil with TAM due to a weakening Brazilian economy. TAM is cutting costs and reducing flights.
LAN Airlines (Chile) (Santiago) reported net income of $60.6 million (US) for the second quarter compared to $4.2 million in the same period in 2009.
As previously reported, In July 2010, LAN signed a memorandum of understanding (MOU) for the purchase of 50 Airbus A320 family aircraft to be delivered between 2012 and 2016. The new aircraft will operate regional and domestic flights within Latin America.
LAN also signed an agreement in July with Boeing to adjust the delivery of 2 Boeing 787-8 Dreamliner aircraft to 2012. This modification to LAN’s fleet plan will allow the company to receive a total of 5 Boeing 787-8 Dreamliner aircraft in 2012. This is in addition to the anticipated delivery of 10 Boeing 787-8 Dreamliner already announced in March 2010. As a result, LAN will be the first airline in the western hemisphere to take delivery of this new and modern aircraft.
Copyright Photo: Ton Jochems. This beautiful composure showcases LAN Cargo’s Boeing 777-F6N N772LA (msn 37708) taxiing at Amsterdam.
LAN Cargo's (Chile) brand new Boeing 777-F6N freighter (N772LA, msn 37708) lands at Everett after a test flight at Boeing. Copyright Photo: Royal S. King.
LAN Cargo’s (LAN Airlines) (Santiago) will take delivery of its first (of four) brand new Boeing 777-F6N registered N772LA (msn 37708) in a ceremony on April 16 at Everett. It is due to then ferry to Miami where it will enter revenue cargo service between MIA and SCL on April 17.