LATAM Airlines Delivers a Strong 2024, Reporting $977 Million in Net Profit, Transporting a Record 82 Million Passengers, Increasing Revenue to $13.03 Billion, and Achieving a 12.7% Operating Margin With 15.1% Capacity Growth

Saturday, February 1, 2025

LATAM Airlines Group soared to new heights in 2024, delivering a stellar financial and operational performance. The airline reported an impressive $977 million in net income, nearly doubling its profit from the previous year. This remarkable achievement was fueled by a record 82 million passengers carried and a 15.1% expansion in consolidated capacity compared to 2023. These numbers reflect LATAM’s sustained growth and resilience in the face of economic fluctuations and industry competition.

The airline’s total operating revenue climbed to $13.03 billion, marking a 10.6% year-over-year increase. In the final quarter alone, LATAM generated $3.39 billion, driven by a 29.1% surge in cargo revenue—a significant boost compared to the same period in 2023. Additionally, LATAM recorded an adjusted operating income of $1.66 billion, with a 12.7% operating margin, up 1.5 percentage points from the previous year—the highest annual margin in the group’s history.

On the financial front, LATAM strengthened its liquidity, closing the year with $3.53 billion in available cash and lowering its adjusted net leverage to 1.7 times. Throughout 2024, the airline generated $243 million in cash flow, with $207 million allocated for refinancing and $175 million in dividend payments. LATAM also achieved an adjusted EBITDAR of $3.11 billion, reflecting a 22.7% annual growth.

With these record-breaking figures, LATAM Airlines Group has reinforced its leadership in the aviation sector, setting the stage for continued expansion and profitability in 2025 and beyond.

“2024 was a year of great progress for LATAM group, highlighted by strong cash flow generation, and showcasing LATAM’s efficiency and remarkable growth in size, network, and operations. Additionally, LATAM group demonstrated its ability to control costs. This performance was guided by the new purpose: “Elevate every single journey,” which reaffirms our commitment to providing a meaningful experience from the moment a customer chooses to fly with LATAM”, said Roberto Alvo, CEO of LATAM Airlines Group.

Financial Milestones: Return to NYSE and Sustainability-Linked Financing

A major highlight for LATAM Airlines Group in 2024 was its return to the New York Stock Exchange (NYSE), reinforcing investor confidence and enhancing global visibility. The airline also refinanced a significant portion of its non-fleet debt, reducing interest expenses and improving both cash flow generation and overall financial stability. In December, LATAM secured its first-ever $300 million Sustainability-Linked Loan, making it the only airline in South America to execute such a financial operation—an important step in aligning financial strategy with long-term environmental commitments.

Expanding Connectivity and Enhancing Customer Experience

LATAM continued its network expansion in 2024, offering passengers seamless connectivity across 151 destinations in 27 countries. The airline achieved a load factor of 84.3%, up 1.2 percentage points from the previous year. Fleet modernization remained a priority, with 16 new aircraft joining the group, bringing the total fleet to 347 planes.

As the only airline group in South America linking the continent with North America, Europe, Oceania, and Africa, LATAM maintained its focus on customer-centric innovation. The LATAM Pass frequent flyer program grew to 49 million members, solidifying its status as the largest loyalty program in the region. The airline also earned a spot among the world’s top five airline groups in punctuality, while its Net Promoter Score (NPS) reached 51 points, the highest in its history and a 3-point improvement from 2023.

Raising the Bar in Customer Service Across South America

LATAM significantly enhanced customer service quality and complaint resolution in key markets:

Chile: Passenger complaints dropped by 21.8% compared to 2023, marking a 70% decline over the last five years, according to Chile’s Civil Aviation Board (JAC) and National Consumer Service (SERNAC).
Colombia: Complaints before regulatory authorities declined, with Superintendence of Transportation reports down by 11% and grievances on the SIC Facilita platform decreasing by 51% year-over-year.
Brazil: LATAM was recognized as the airline with the “Best Customer Care in Brazil” by the renowned consumer portal Reclame Aqui, reflecting its commitment to service excellence and reputation management.

To elevate the passenger experience, LATAM continued its fleet retrofitting program, introducing new cabin interiors, modern seating, and enhanced onboard entertainment. As of 2024, 100% of the narrow-body aircraft and 54% of the wide-body fleet had undergone full renovations. Additionally, free Wi-Fi for LATAM Pass members was expanded across domestic and regional flights, covering 100% of narrow-body aircraft in Brazil and 75% of those operated by affiliates in Chile, Peru, Colombia, and Ecuador.

Commitment to Sustainability: Industry-Leading Environmental Efforts

LATAM intensified its sustainability efforts in 2024, reducing its environmental footprint while creating social, economic, and environmental value across its operational markets. Key milestones include:

Elimination of 97% of single-use plastics, removing over 1,700 tons of waste from its operations.
Recycling 280 tons of waste on domestic flights within the year.
Avoiding 4.5 million tons of CO2 emissions from 2010 to 2024 through its climate action initiatives.
Maintaining nearly 50 partnerships with social and environmental organizations to drive sustainable development.

Further cementing its leadership in sustainability, LATAM rejoined the Dow Jones Sustainability Index and was ranked the fifth most sustainable airline group globally—and the most sustainable in the Americas—by S&P Global’s Corporate Sustainability Assessment (CSA).

With strong financial performance, expanding connectivity, enhanced customer service, and a leading sustainability strategy, LATAM Airlines Group has positioned itself as a benchmark in global aviation, ready to continue its growth trajectory in 2025 and beyond.

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