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LAN profits slide in second quarter
In what is seasonally its weakest quarter, LAN Airlines reported a $26.6 million profit for the three months ended June 30, down 15.6% compared to net income of $31.5 million in the 2004 period.
Operating income plunged 53.4% to $15.8 million versus $33.9 million last year. "LAN was impacted by record fuel prices--which led to $46.9 million in additional expanses," the carrier said. "However, the company overcame this incremental cost and posted its second-best result ever for the second quarter and 12th consecutive quarterly profit."