• Revenues grew 18.1% compared to the same period of last year, mainly explained by a 25.6% increase in passenger revenues.

• LATAM reported a net income of US$232 million for the period. For the year-to-date period, LATAM recorded a net income of US$499 million.

Santiago, October 30, 2023. LATAM Airlines Group announced today its financial results for the third quarter of 2023, building upon the already positive results it has shown during this year. At the end of the period, the group achieved an adjusted operating margin of 13.4% and a net profit of US$232 million, accumulating US$499 million in the first nine months of 2023.

Furthermore, LATAM group noted operating revenues of US$3,056 million, 18.1% more than in the same quarter of 2022, primarily explained by the 25.6% increase in passenger revenues. Adjusted EBITDAR was US$726 million, reaching US$1,858 million between January and September 2023.

Regarding its cash position, LATAM group generated US$104 million in cash during the quarter, increasing its liquidity to US$2,729 million.

“We are very proud of the financial performance that the group has shown during this third quarter and throughout the year, which has been progressively improving thanks to systematic work toward a long-term vision. At the end of this quarter, the group reported a record result in revenues  following the consistent recovery in passenger air transportation. In turn, the capital structure of LATAM Airlines Group S.A continues to be incomparable in the region, in terms of liquidity and leverage which, added to the unmatched connectivity that LATAM group offers at a regional level, demonstrates that it is on the right path,” said Ramiro Alfonsín, CFO of LATAM.

During July, August and September, the group's consolidated operations (measured in ASK, or available seat kilometers) have been recovering, growing 15.2% compared to the same quarter of 2022.

With regard to the group’s international operations, capacity increased 29.2%, and reached an average load factor of 87.1% during the quarter. It is worth mentioning that, at a consolidated level, LATAM group reached a load factor of 85.3%.

In the case of the domestic segments, the domestic operations of LATAM Airlines Brazil increased 1.3% compared to 2022 (107.3% v/s 2019), while the domestic operations corresponding to the affiliates of Colombia, Chile, Peru and Ecuador grew 9.5% compared to last year (91.4% v/s 2019).

Robust regional and international network

October marked one year since the implementation of the Joint Venture with Delta Air Lines, which has already operated 15,000 flights between North America and the countries within the JV in South America, and where 3 million customers have already benefited from this alliance.

In addition, during the period, LATAM Airlines daily flights to Rapa Nui from Santiago, Chile were resumed and the reopening of the Santiago-Melbourne, both by LATAM Airlines Group and LATAM Airlines Brazil resumed the Sao Paulo-Johannesburg route. The group also announced the expansion of its network with direct LATAM Airlines Peru flights between Lima and London, starting December 1.

In terms of fleet, in the third quarter, the group took delivery of four Boeing 787-9 aircraft and seven narrow body aircraft, including the first Airbus 321Neo. An order was also placed for 13 additional A321Neo aircraft, which are part of a total order for 111 Airbus A320 family aircraft that will provide greater efficiency, in terms of costs, to the LATAM fleet. At the end of the third quarter, the group has 245 Airbus narrow body aircraft, 58 Boeing wide body aircraft and 18 Boeing freighter aircraft, totaling 321 aircraft.

Advances in sustainability

During the period, LATAM and Airbus, together with the Massachusetts Institute of Technology (MIT), announced the start of a joint study on Science and Policy of Global Change, for research into the use of sustainable aviation fuels (SAF), with a view to decarbonization in the industry by 2050. Additionally, the group achieved a 93% reduction in single-use plastics throughout the operation. In October, LATAM received its first Airbus A321Neo in Brazil, a highly efficient aircraft, using 49% of SAF for its ferry flight.

During the quarter, LATAM was distinguished by its customers with the Five Star category for the second consecutive year, of the Airline Passenger Experience Association (APEX) 2024 Ranking, and was chosen “The Best Airline in South America” for the fourth consecutive year, in the “World Airline Awards” by Skytrax.

ABOUT LATAM GROUP

LATAM Airlines Group S.A. and its subsidiaries are the leading airline group in Latin America, with presence in five domestic markets in the region: Brazil, Chile, Colombia, Ecuador and Peru, in addition to international operations within Latin America and to Europe, Oceania, the United States and the Caribbean.

The group has a fleet of Boeing 767, 777, 787, Airbus A321, A321neo A320, A320neo and A319 aircraft. LATAM Cargo Chile, LATAM Cargo Colombia and LATAM Cargo Brazil are the LATAM group’s cargo subsidiaries,In addition to having access to the bellies of the passenger affiliates' aircraft, they have a fleet of 19 freighters. These cargo subsidiaries have access to the group's passenger aircraft, and operate within the LATAM group network, as well as on exclusive international routes for cargo transportation. In addition, they offer a modern infrastructure and a wide variety of services and support options to meet the needs of its customers.

More financial information at  www.latamairlinesgroup.net

www.latam.com