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Shares in Chile's LAN sink
SANTIAGO : Shares in Chilean airline LAN, one of Latin America 's dominant carriers, fell sharply on Wednesday, a day a
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SANTIAGO: Shares in Chilean airline LAN, one of Latin America's dominant carriers, fell sharply on Wednesday, a day after the company reported a sharp drop in its second-quarter earnings.
Shares in the company fell 2.61 percent to 12,500 pesos in Santiago's blue-chip IPSA stock index.
"The profit was substantially less than expected," said the BCI brokerage in a note to clients.
LAN said on Tuesday its second-quarter profit fell 74 percent to $15.9 million, well below forecast, hammered by flight disruptions caused by ash from an erupting volcano.
Copyright Reuters, 2011
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