Latin America’s airline, LATAM have seen their cargo volumes fall with 13.7% in November on a seven point decline in load factor to 56.9%.
The weak demand was attributed to the downward trend of seasonal exports from Latin America and the continued poor economic performance of Brazil’s domestic and international markets.
LATAM stated it continues to adjust cargo capacity by reducing freighter operations, which resulted in a 3.1% decline in available ton kilometers for November.
Q3 cargo revenue plunged with 24.5% y-o-y, which aside from weakness in the Brazilian market was also due to a strike by customs personnel at Sao Paulo’s Airport.