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LATAM Airlines Group (NYSE:LFL) recently reported its fourth quarter earnings and discussed the following topics in its earnings conference call.
James Parker – Raymond James: I have a couple questions. Your synergies, merger synergies you say are $72 million in 2012. Is that an annual run rate or the actual amount in the calendar year 2012?
Gisela Escobar – Director, IR: That’s the actual amount. It’s not the run rate. The $250 million to $300 million estimate for 2013 is also the actual amount.
James Parker – Raymond James: My second question has to do with LAN Colombia. What was the loss in the fourth quarter, and in which quarter do you think you’re going to get into the black with this operation this year?
Alejandro de la Fuente Goic – CFO: LAN Colombia in the fourth quarter was breakeven and we expect it to be profitable year for 2013. We’re not providing any more details on Colombia. It’s a part of the network plan, but the operation is in a well condition and improving every month.
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