South America’s LATAM Airlines Group reported a first-quarter 2017 net profit of $65.6 million, down 35.9% from the company’s $102.2 million net income in 1Q 2016. Operating revenue for the quarter increased 6.4% year-over-year (YOY) to $2.5 billion. LATAM attributed the increase to the company’s capacity management combined with stronger local currencies, particularly in Brazil. Total expenses increased 10.3% YOY to $2.3 billion as fuel and labor costs rose 29% and 7.5%, ...

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