Most of Latin America remains a bright spot in an otherwise gloomy world, with several of the region’s major carriers expecting to again be in the black this year.

Carriers from Latin America and the Caribbean which made the Airline Business top 150 posted a $1.3 billion operating profit in 2008, roughly matching their stellar 2007 performance, as revenues surged by almost a quarterrunning to $23 billion. Three carriers ended the year with double-digit operating margins - Avianca, Copa and LAN - putting them in the illustrious top 15 for highest group operating margins.

Most Latin American markets continue to be strong this year. Demand for flights in the region is particularly strong, offsetting a lower take-up to Europe and the USA. Perennially profitable Copa and LAN, which in recent years have outperformed nearly every other airline traded on the New

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