Chile’s Latam Airlines swings to profit in third quarter

LATAM Airlines posted a third-quarter net profit of $232 million on Monday, a turnaround from a loss of $296 million in the same period last year when the carrier was still in the process of its bankruptcy proceedings. The quarterly results come amid a stronger year for the airline, which also raised its full-year guidance in the second quarter following its exit late last year from pandemic-related bankruptcy proceedings, with a robust $8 billion reorganization plan. The company now anticipates EBITDAR to range between $2.35 billion and $2.50 billion, up from the previous estimate of $2 billion to $2.2 billion.