LanChile Profits of US$21.6 million

LanChile’s top levels of efficiency and its growing strength in international markets, especially Peru and Ecuador, have contributed to the company’s posting net profits of US$21.6 million during the first quarter of 2003, up from US$17.1 million in profits for the same quarter of the previous year.

LanChile achieved these results despite the impact of a substantial rise in the price of fuel, the effects of war in Iraq, and a significant decline in domestic passenger traffic.

During this quarter, the airline signed an agreement with its maintenance line union, which, combined with those achieved with other company unions, reflects the optimum state of labor relations within the firm. This agreement, to be applied over the next four years, includes significant advances in labor flexibility.