Tam, Brazil’s largest airline by market value, has posted a third-quarter loss of 606.2 million reais ($344 million), a 17% fall in the real led to increased financial costs. Tam posted profit of 745.5 million reais a year earlier. Net sales rose 13% to 3.32 billion reais.
Chief Financial Officer Libano Barroso expects growth in the country’s airline traffic to slow to 8% to 12% next year.
TAM posts loss for the third quarter
Tam, Brazil’s largest airline by market value, has posted a third-quarter loss of 606.2 million reais ($344 million), a 17% fall in the real led to increased financial costs. Tam posted profit of 745.5 million reais a year earlier. Net sales rose 13% to 3.32 billion reais.
Chief Financial Officer Libano Barroso expects growth in the country’s airline traffic to slow to 8% to 12% next year.