Latam fell 1.8 percent to 10,570 pesos at 12:16 p.m. in Santiago, which would be its lowest closing price since October 2011. The Ipsa (IPSA) benchmark index advanced 0.1 percent.
The carrier reported yesterday a net loss attributable to shareholders of $51.1 million in the fourth quarter, compared with profit of $115 million a year earlier. The average estimate of six analysts surveyed by Bloomberg was for a loss of $32.5 million.
“Merger costs and the level of synergies obtained affected profit,” analysts at the brokerage unit of Chilean lender Banco de Credito & Inversiones said in an e-mailed note today. “The company’s performance and the challenges reaching its cost- saving goals will lead us to review our estimates.”
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