LATAM passenger traffic slips in February, load factor rises
SANTIAGO, March 10 (Reuters) - Latin America's largest carrier, LATAM Airlines Group SA, said on Monday that total passenger traffic in February decreased 0.7 percent year-on-year.
The company was formed in 2012 from the tie-up of Chile's flagship LAN and Brazilian airline TAM, and has been cutting capacity in Brazil to boost efficiency and shore up margins.
Load factor, a measure of how full planes are, rose 4.2 percentage points from a year ago to 82.9 percent, as capacity dropped 5.7 percent, driven by cuts in Brazilian and international routes.
LATAM has domestic operations in Argentina, Brazil, Chile, Colombia, Ecuador and Peru, and is due to release 2013 results next week. (Reporting by Rosalba O'Brien; Editing by Marguerita Choy)
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