TAM's net income drops owing to rapid expansion; more growth projected
TAM reported first-quarter net income of BRL59.2 million ($29.2 million), down 53.3% from BRL126.7 million in the year-ago quarter, a drop mainly attributable to a 37.4% year-over-year increase in aircraft costs and a 40.9% rise in personnel expenses as the fast-growing Brazilian carrier continued...
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