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LATAM Airlines Group S.A. is aChilean multinationalairlineholding company headquartered inSantiago, Chile.[1][2] It is considered the largest airline company inLatin America[5][6] with subsidiaries inBrazil,Colombia,Ecuador,Paraguay andPeru.[7][8][9][10][11] The company filed forChapter 11 bankruptcy in theUnited States on 26 May 2020, due to economic problems attributed to theimpact of the COVID-19 pandemic on aviation.[12]
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| Company type | Sociedad Anónima |
|---|---|
| BCS:LTM | |
| ISIN | CL0000000423  |
| Industry | Aviation |
| Founded | 22 June 2012; 12 years ago (2012-06-22) |
| Headquarters | Santiago,Chile[1][2] |
Key people | Ignacio Cueto[3] (Chairman) Roberto Alvo (CEO) |
| Products | Passenger flights Cargo activity Aircraft maintenance |
| Services | Airline Services |
| Revenue |  US$11.789 billion (2023)[4] |
| US$1.078 billion (2023)[4] | |
| US$0.582 billion (2023)[4] | |
| Total assets | US$14.667 billion (2023)[4] |
| Owner |
|
Number of employees | 35,568 (2023) |
| Subsidiaries | |
| Website | www |
Although LATAM Airlines' headquarters are located in Chile, the carrier is anAmerican depositary receipt and traded on both theSantiago Stock Exchange andNew York Stock Exchange at the time of bankruptcy. The company's stock ticker (LTMAQ) was delisted from the NYSE and later moved to the unregulatedOTC Markets Pink on 12 June 2020.
History
editMerger
editChile'sLAN-Chile and Brazil'sTAM Linhas Aéreas signed a non-binding agreement to merge on 13 August 2010, followed by a binding agreement on 19 January 2011,[13][14] and papers to close the merger on 22 June 2012, with TAM Linhas Aéreas' shareholders agreeing to the takeover by LAN Airlines.[15] Enrique Cueto, former CEO of LAN, became the CEO of LATAM; LATAM now has been reworked into being a portmanteau word of "Latin" and "America".[16] Mauricio Rolim Amaro, formerly vice-chairman of TAM, became LATAM chairman.[17]
Government approvals
editThe agreement to establish LATAM was approved by Chilean authorities on 21 September 2011, with 11 restrictions. These included transferring fourlanding slots atSão Paulo–Guarulhos International Airport to competitors interested in operating flights to Santiago de Chile'sArturo Merino Benítez International Airport, renouncing membership to either theOneworld orStar Alliance airline alliance, restricting the increase in capacity on flights between Brazil and Chile, and opening code-share possibilities and fidelity program membership to interested competitors.[18] On 14 December 2011, Brazilian authorities approved the agreement, imposing similar restrictions as Chilean authorities: LATAM would have to choose an alliance by August 2012 and frequencies between São Paulo and Santiago de Chile would have to be reduced. At the time, TAM had two pairs of slots while LAN had four. LAN had to relinquish two pairs to competitors interested in using them.[19] On 7 March 2013, LATAM announced its final decision to choose Oneworld as its global airline alliance. As a result, TAM left Star Alliance during the second quarter of 2014 to join Oneworld.[20]
Rebranding
editIn August 2015, it was announced that all LATAM Airlines Groupairlines would fully rebrand as LATAM, with one unified livery to be applied on allaircraft by 2018.[21][22] The rebranding included all aspects of the business, such as staff uniforms and airport check in facilities.[23] The first of the aircraft were repainted (or delivered new) in the new LATAM livery in April 2016.[24]
2019–2020: Delta stake, Oneworld departure, and Enrique Cueto steps down
editOn 26 September 2019,Delta Air Lines announced its plans to buy 20% of LATAM for $1.9 billion, to expand Delta's access to the Latin American market. Additionally, Delta agreed to pay LATAM's exit fee fromOneworld and to take delivery of allAirbus A350 XWB aircraft that LATAM had on order.[25][26] On 1 January 2020, it was reported that Delta Air Lines' acquisition of the 20% stake in the LATAM group was completed.[citation needed] Group CEO Enrique Cueto stepped down on 31 March 2020, and was succeeded by Roberto Alvo, the group's then-current Chief Commercial Officer.[27] On 31 January 2020, LATAM announced that it would leave Oneworld three months later on 1 May.[28]
2020: COVID-19 related bankruptcy
editOn 26 May 2020, LATAM filed forChapter 11 bankruptcy in the United States due to economic problems attributed to theimpact of the COVID-19 pandemic on aviation,[12] although they are currently operating and have been negotiating terms.[29] In August, the company announced its second-quarter results, projecting improved operational prospects. To assist with theCOVID-19 pandemic in Peru, the company announced that its subsidiary LATAMPerú would help distribute vaccines to fifteen provinces in Peru for free.[30]
Corporate affairs
editBusiness trends
editThe key trends for the LATAM Group are (as of the financial year ending 31 December):
| Revenue (US$ m) | Net profit (US$ m) | Number of employees | Number of passengers (m) | Passenger load factor (%) | Number of served countries[a] | Number of destinations | Fleet size | Cargo carried (000 tons) | References | |
|---|---|---|---|---|---|---|---|---|---|---|
| 2012 | 9,722 | 24.3 | 53,599 | 64.9 | 78.6 | 140 | 327 | 1,200 | [31][32] | |
| 2013 | 13,266 | −281 | 52,997 | 66.6 | 80.8 | 145 | 339 | 1,171 | [32] | |
| 2014 | 12,471 | −109 | 53,072 | 67.8 | 83.4 | 155 | 327 | 1,102 | [33] | |
| 2015 | 10,125 | −219 | 50,413 | 67.8 | 83.1 | 25 | 150 | 331 | 1,009 | [34] |
| 2016 | 9,527 | 69.2 | 45,916 | 66.9 | 84.2 | 25 | 145 | 332 | 944 | [35] |
| 2017 | 10,163 | 155 | 43,095 | 67.0 | 84.8 | 24 | 140 | 315 | 896 | [36] |
| 2018 | 10,368 | 181 | 41,170 | 68.8 | 83.1 | 26 | 135 | 320 | 921 | [37] |
| 2019 | 10,430 | 190 | 41,729 | 74.2 | 83.5 | 26 | 125 | 342 | 903 | [38] |
| 2020 | 4,334 | −4,545 | 28,396 | 28.3 | 76.5 | 21 | 100 | 300 | 785 | [39] |
| 2021 | 5,111 | −4,647 | 29,114 | 40.2 | 74.4 | 18 | 110 | 310 | 801 | [40] |
| 2022 | 9,516 | 1,339 | 32,507 | 62.0 | 81.3 | 22 | 120 | 310 | 901 | [41] |
| 2023 | 11,789 | 582 | 35,568 | 74.0 | 83.1 | 26 | 130 | 333 | 946 | [42] |
Ownership
editAs of 31 December 2023[update], the company's major shareholders are:[43]
| Shareholder | Interest |
|---|---|
 Sixth Street Partners | 27.91% |
| Strategic Value Partners | 16.02% |
| Delta Air Lines | 10.05% |
 Qatar Airways | 10.03% |
 Cueto Group | 5.03% |
| Other investors | 30.96% |
| 100% |
Operations
edit
As of 31 December 2017, LATAM Airlines Group is one of the largest airline groups in the world in terms of network connections, with its subsidiaries operating a combined fleet of 315 aircraft providing passenger transport services to 137 destinations in 24 countries; and 18 aircraft providing cargo services to 144 destinations in 29 countries.[44]
LATAM's main hubs are Santiago de Chile'sArturo Merino Benítez International Airport;Jorge Chávez International Airport in Lima;São Paulo–Guarulhos International Airport; andEl Dorado International Airport inBogotá. The company is exploring the creation of a new hub in northeastern Brazil with the objective of expanding operations between Europe and South America.[45] Bogotá is the hub for the Caribbean.[46]
Subsidiaries
editCurrent
edit.jpg)
_Airbus_A350-941_Airbus_Industrie_(LATAM_Airlines_Brazil)_TLS_16SEP16.jpg)
The airlines majority- and minority-owned by LATAM Airlines Group through the primary airlines' various subsidiaries are as follows:
- LATAM Airlines Brasil
- LATAM Airlines Chile
- LATAM Airlines Colombia
- LATAM Airlines Ecuador
- LATAM Airlines Paraguay
- LATAM Airlines Perú
Former
edit- LATAM Airlines Argentina - Ceased operations in 2020.[47]
- LATAM Cargo Mexico - (39.5%) sold its shares in 2018, renamed back to MasAir.[48]
Fleet
editAs of February 2025, LATAM Airlines Group owns and operates the following aircraft:[49]
| Aircraft | In service | Orders | Passengers | Notes | |||
|---|---|---|---|---|---|---|---|
| J | W | Y | Total | ||||
| Airbus A319-100 | 40 | — | – | – | 144 | 144 | |
| Airbus A320-200 | 135 | — | – | – | 168 | 168 | Equipped with bothCFM56 andIAE V2500 engines. This is due to the merger between TAM (IAE) and LAN (CFM). |
| 174 | 174 | ||||||
| 180 | 180 | ||||||
| 188 | 188 | FormerViva Air Colombia aircraft. | |||||
| Airbus A320neo | 30 | 8 | – | – | 180 | 180 | |
| 174 | 174 | ||||||
| Airbus A321-200 | 49 | — | – | – | 220 | 220 | |
| 224 | 224 | ||||||
| Airbus A321neo | 14 | 49 | – | – | 224 | 224 | Deliveries commenced in October 2023.[50] |
| Airbus A321XLR | — | 13 | TBA | Deliveries start in 2025.[51] | |||
| Boeing 767-300ER | 9 | — | 20 | – | 211 | 231 | |
| 213 | 233 | ||||||
| 218 | 238 | ||||||
| Boeing 777-300ER | 10 | — | 38 | 50 | 322 | 410 | LATAM Brasil flights only. |
| Boeing 787-8 | 10 | — | 20 | – | 252 | 272 | |
| 30 | 217 | 247 | |||||
| Boeing 787-9 | 27 | 19 | 30 | – | 283 | 313 | With 5 options. Deliveries until 2030. |
| 57 | 216 | 303 | |||||
| LATAM Cargo fleet | |||||||
| Boeing 767-300F | 9 | — | Cargo | ||||
| Boeing 767-300ER/BCF | 12 | 1 | |||||
| Total | 345 | 90 | |||||
See also
edit
Notes
edit- ^passenger operations
References
edit- ^ab"LATAM Airlines Group SA".Reuters. 17 August 2018.
- ^ab"Latam Airlines Group SA Corporate Information". Bloomberg L.P. 27 October 2018.
- ^"LATAM – Board of Directors".latamairlinesgroup.net. Retrieved15 May 2017.
- ^abcd"Annual Integrated Report 2023".LATAM Airlines Group SA. Retrieved19 October 2024.
- ^"Latam Airlines Group SA – Company Profile and News". Bloomberg L.P. Retrieved26 May 2020.
- ^"Kantar BrandZ"(PDF).
- ^Webber, Jude; Lemer, Jeremy (15 August 2010)."LatAm airlines join consolidation trend".Financial Times. Retrieved16 August 2010.
- ^Sobie, Brendan (13 August 2010)."LAN and TAM to merge".Flight International. Retrieved14 August 2011.
- ^"Contact." LATAM Airlines Group. Retrieved on 25 January 2013. "Contact Pdte. Riesco 5711, 20th floor Las Condes Santiago, Chile "
- ^http://i.imgur.com/IvRaefc.jpg[bare URL image file]
- ^http://www.melhoresdestinos.com.br/wp-content/uploads/2015/08/logo_timeline_1024.jpgArchived 28 July 2020 at theWayback Machine[bare URL image file]
- ^ab"LATAM becomes largest airline driven to bankruptcy by coronavirus".Reuters. 26 May 2020. Retrieved26 May 2020.
- ^"TAM and LAN announce binding agreement".TAM Linhas Aéreas. 19 January 2011. Retrieved14 August 2011.
- ^"LAN says signs non-binding deal with TAM to merge".Reuters. 13 August 2010. Retrieved13 August 2010.
- ^"Chile's Lan and Brazil's Tam merge to create huge airline". BBC. 1 January 1970. Retrieved23 June 2012.
- ^"Enrique Cueto to be CEO of new LAN-TAM parent".Flight International. 13 August 2010. Retrieved14 August 2011.
- ^"LAN and TAM aim to complete merger by mid 2011".Flight Global. 14 August 2010. Retrieved14 August 2019.
- ^Seabra, Luciana (21 September 2011)."Tribunal chileno aprova fusão de TAM e LAN com 11 condições" (in Portuguese). Valor Econômico. Retrieved26 September 2011.
- ^Rodrigues, Eduardo; Froufe, Célia (14 December 2011)."Com restrições, CADE aprova fusão TAM/Lan" (in Portuguese). O Estado de S. Paulo. Archived fromthe original on 14 May 2012. Retrieved15 December 2011.
- ^"LATAM – News Release".latamairlinesgroup.net. Retrieved15 May 2017.
- ^"LAN and TAM to operate as LATAM with a new livery" retrieved 9 August 2015
- ^"LATAM's entire fleet to have new livery by 2018" retrieved 9 August 2015
- ^Mutzabaugh, Ben (7 August 2015)."So long, LAN and TAM; Airlines will soon fly under LATAM brand".USA Today. Retrieved31 August 2015.
- ^Mutzabaugh, Ben."LATAM Airlines unveils post-merger paint scheme for LAN, TAM planes".USA TODAY. Retrieved28 January 2023.
- ^Rucinski, Tracy (27 September 2019)."Delta to buy 20% of LATAM for $1.9 billion in regional shake-up".Reuters. Retrieved26 May 2020.
- ^Sider, Alison (26 September 2019)."Delta Air Lines to Take 20% Stake in Latam Airlines for $1.9 Billion".The Wall Street Journal. Retrieved27 September 2019.
- ^"LATAM AIRLINES GROUP REPORTS A 21.8% IMPROVEMENT IN OPERATING INCOME AND A 10.1% OPERATING MARGIN FOR THE THIRD QUARTER 2019". Retrieved9 December 2019.
- ^"Details | oneworld".oneworld.com. Retrieved14 February 2020.
- ^Laing, Fabian Cambero, Aislinn (17 September 2020)."LATAM Airlines proposes new $2.45 billion financing deal to U.S. bankruptcy court".Reuters. Retrieved21 November 2020.
{{cite news}}: CS1 maint: multiple names: authors list (link) - ^"LATAM trasladará de forma gratuita las vacunas COVID-19 en el Perú | ECONOMIA".Peru21 (in Spanish). 10 December 2020. Retrieved10 December 2020.
- ^"LATAM Annual Report 2012".LATAM. Retrieved9 November 2023.
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- ^"LATAM Annual Report 2015".LATAM. Retrieved9 November 2023.
- ^"LATAM Annual Report 2016".LATAM. Retrieved9 November 2023.
- ^"LATAM Annual Report 2017"(PDF).LATAM. Retrieved9 November 2023.
- ^"Memoria Integrada 2018".LATAM. Retrieved9 November 2023.
- ^"LATAM Integrated Report 2019".LATAM. Retrieved9 November 2023.
- ^"LATAM Integrated Report 2020".LATAM. Retrieved9 November 2023.
- ^"LATAM Integrated Report 2021".LATAM. Retrieved9 November 2023.
- ^"LATAM Integrated Report 2022".LATAM. Retrieved9 November 2023.
- ^"LATAM Integrated Report 2023".LATAM. Retrieved3 March 2024.
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- ^"LATAM – Annual Reports".latamairlinesgroup.net. Archived fromthe original on 10 July 2017. Retrieved15 January 2022.
- ^"LATAM Airlines Group has to undergo a delicate balance of short term pain for strategic gain".centreforaviation.com. Centre for Aviation. Retrieved4 September 2015.
- ^Bohorquez Aya, Edwin (7 July 2015)."América Latina le habla duro a". El Espectador (Spanish). Retrieved5 August 2015.
- ^"LATAM Airlines Argentina halts domestic cargo service". Global Cargo News. 18 June 2020. Archived fromthe original on 19 January 2021. Retrieved2 July 2020.
- ^"LATAM Airlines concluye venta de participación en MASAir Cargo". Transponder 1200. 3 December 2018. Retrieved21 July 2019.
- ^"LATAM Airlines Consolidated Fleet".LATAM Airlines Group. Retrieved15 January 2024.
- ^"LATAM Airlines takes delivery of its first A321neo, adds 13 more to orderbook".Aviacionline.com. 15 January 2024.
- ^"LATAM orders 17 A321neo and gets 13 A321XLR".Air Insight. 21 July 2022.
