TAM reports its first loss in the third quarter
Written by thomas · Filed Under CommercialNovember 17, 2008
The other Brazilian “model airline” – the largest in the region – has reported it lost $53.2 million in the third quarter, compared to a profit of $22.9 million in the same quarter in 2007. This was in spite of continued growth – both domestic and international – for the nine months the airline reported a loss of $28.3 million compared to a profit of $37.3 million in the same period. Apart from high fuel costs, much of the loss is blamed on the devaluation of the Brazilian currency.
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