LATAM Airlines reported it's consolidated results

LATAM Airlines Group reported operating income of USS114.2 million for first quarter 2013, a 149.8% increase compared to the USD $45.7 million pro forma operating income in first quarter 2012. Operating margin reached 3.4%, an increase of 2.0 points compared to 1.4% in 2012. This result reflects a steady recovery in business operations as we advance in the process of achieving the expected synergies from the merger between LAN and TAM.

Net income reached USD$42.7 million for first quarter 2013,compared to a pro forma consolidated net income of USD$83-7 million for the same period 2012, which represents a decrease of 48.9% mainly due to a foreign exchange gain of USS133.4 million recognized at TAM during the first quarter 2012.

TAM continues to make significant progress in the turnaround of the domestic Brazil passenger operations, maintaining capacity discipline with a 9.2% reduction in ASKs during the first quarter 2013 as compared to the first quarter 2012. 

Healthy traffic growth of 3.4%,as well as improved market segmentation and revenue management practices have resulted in strong load factor improvements of 9.5 percentage points as compared to the first quarter 2012,reaching 77.7%. This led to a significant increase in revenue per ASK,as measured in Brazilian reais. Results in U.S. dollars were affected by a 13% depreciation of the Brazilian currency during the quarter as compared to the first quarter 2012. 

Total revenues in the first quarter 2013 reached USS3,409.0 million compared to pro forma revenues of USS3,360.2 million in first quarter 2012. The increase of 1.5% is a result of a 1.5% increase in passenger revenues and a 38.6% increase in other revenues, partially offset by a 3.2% decrease in cargo revenues. 

The slight increase in revenues reflects capacity reductions in the domestic Brazil passenger operations and a more challenging environment for international passenger operations, as well as weak market demand in the cargo business. Passenger and cargo revenues accounted for 84.2% and 13.5% of total revenues, respectively,in first quarter 2013.

During the first quarter 2013,LATAM received a total of s Airbus A320 family aircraft and 1 Boeing 767-300 passenger aircraft. Furthermore,the Company returned 1 Airbus A320-200 and sold 2 Airbus A318 aircraft.