Panama City-registered Avianca Holdings posted a 2015 third-quarter net profit of $102.1 million, more than tripling its $33.2 million net profit in 3Q 2014. “[The] results were mainly driven by a leaner cost structure as the company continues to implement cost saving initiatives, along with the expansion of our cargo business,” Avianca said. Yet passenger revenues fell 13.4% year-over-year (YOY) as currency depreciation in the region led to weaker demand; as a result ...

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