Brazil's TAM reverses loss in Q3 as costs drop

Thu Nov 12, 2009 9:45am GMT
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SAO PAULO, Nov 12 (Reuters) - TAM Linhas Aereas (TAMM4.SA: Quote, Profile, Research) (TAM.N: Quote, Profile, Research), Brazil's biggest airline, reported on Thursday third-quarter net income of 348 million reais ($202 million), compared with a net loss of 663.6 million a year earlier.

Earnings before interest, taxes, depreciation, amortization and lease rentals, a measure of operational profitability and cash generation known as EBITDAR, fell 10.6 percent to 377.1 million reais from 421.8 million in the same period of 2008. ($1=1.722 reais) (Reporting by Guillermo Parra-Bernal; Editing by Jon Loades-Carter)

 
 
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