Good to hear this..i hadnt been hearing any good news from S.America. Still Varig and specialy Aerolieas Argentina are not in sound financial condition.
**********
LanChile In Good Financial Health
The leading Chilean airline, LanChile, has hailed a successful year after almost trebling its net profits in 2002.
The company said that cost-cutting measures had allowed it to post net income of USD$30.8 million, compared to USD$10.8 million the previous year.
Operating income for the full year increased by 23.5 percent to USD$62.1 million against USD$50.3 million in 2001.
LanChile said that while the short-term outlook remains uncertain due to the current international political and economic situation, it will continue to leverage its low cost base, diversify revenue streams and maintain its strong financial position.
The airline’s financial health was boosted by a strong fourth quarter which produced net income of USD$15.5 million. In the same period of the previous year it posted loses of USD$4.8 million. Fourth quarter operating income increased to USD$21.2 million from USD$8.7 million in 2001 as operating margins doubled.
LanChile also announced it had maintained its Fitch Ratings investment grade rating.
*******
http://news.airwise.com/display/story.html?name=2003/02/1046437962.html
Sign In
March 2, 2003 at 4:15 pm