SANTIAGO, CHILE: April 08, 2016. LATAM Airlines reported an 11.1 percent drop in revenue tonne-kilometers (RTKs) to 302 million in March and a 9.8 percent decline to 875 million RTKs for the first three months of 2016 year-on-year. The overall load factor fell 4.4 points to 52.4 percent and 3.6 to 51.2 percent for the same periods respectively.
The results follow a decision to replace LAN CARGO, TAM Cargo, LAN CARGO Colombia and Mas Air with a single brand called LATAM Cargo. The new entity markets the bellyholds of LATAM passenger services plus B777 and B767 freighter capacity to 140 destinations in 29 countries.
"Apart from representing each affiliate's best and offering consistent and impeccable service, this change also involves an evolution internally in relation to how we do things, how we deal with issues and how we come up with solutions. LATAM Cargo will foster a culture of dedication to customers, with a strong focus on the development of projects that add value and significant improvements to the service experience," commented Cristián Ureta, Cargo EVP.
LATAM Cargo has a business focus of delivering perishables worldwide - including salmon, flowers, berries and asparagus.
LATAM Airlines reported a net loss of US$219 million on revenue of US$10.1 billion for 2015 compared to a net loss of US$108 million on revenue of US$12.4 billion the previous year.
In March the airline announced a US$2.9 billion reduction in fleet commitments for the 2016 – 2018 period. The company said it sold four A330s, redelivered three A330s, one B767, four A320s and subleased one B777 freighter during 2015.