Tam Posts First-Quarter Net Income of 148.1 Million Reais
This article is for subscribers only.
Tam SA, the controller of the Brazilian airline that agreed to be bought by Chile’s Lan Airlines SA, posted a first-quarter profit as an appreciation of the real reduced the company’s debt denominated in dollars.
Tam’s net income attributable to controlling shareholders reached 148.1 million reais between January and March, compared with a loss of 69.1 million in the same period in 2010, according to a regulatory filing.