LAN Stung by Fuel Costs

LAN, Chile´s leading airline, reported a net profit of $26.6 million in the second quarter, down 16 percent year-on-year. The company attributed the decrease to higher fuel costs, as crude oil prices hover near record levels. Revenue rose 23 percent to $570 million. LAN operates in Chile, Ecuador, Peru, the Dominican Republic, and recently introduced a new subsidiary, LAN Argentina.