LATAM Airlines Group has reported a significant financial performance for the year 2024, with net income reaching US$977 million, nearly double that of the previous year. The group transported a record 82 million passengers and increased its consolidated capacity by 15.1% compared to 2023.
The airline's total operating revenues for 2024 amounted to US$13,034 million, marking a 10.6% increase from the previous year. In the fourth quarter alone, revenues reached US$3,395 million, driven by a substantial rise in cargo revenues which grew by 29.1% compared to the same period in the prior year.
LATAM's liquidity at the end of 2024 stood at US$3,533 million with an adjusted net leverage of 1.7 times. The group generated over US$243 million in cash during the year and achieved an adjusted EBITDAR of US$3,108 million, reflecting a year-over-year increase of 22.7%.
"2024 was a year of great progress for LATAM group," said Roberto Alvo, CEO of LATAM Airlines Group. He highlighted strong cash flow generation and efficiency as key factors in their growth.
A notable milestone for LATAM in 2024 was its return to the New York Stock Exchange (NYSE) and refinancing most non-fleet debt to reduce interest expenses significantly. Additionally, LATAM arranged its first "Sustainability-Linked Loan" totaling US$300 million.
Operationally, LATAM offered connectivity with 151 destinations across 27 countries and maintained a load factor of 84.3%. The group's fleet expanded with the addition of 16 aircrafts bringing it to a total of 347 aircrafts.
Customer satisfaction remained high as LATAM positioned itself among the top five global airline groups in punctuality and improved its Net Promoter Score (NPS) by three points from last year.
In terms of sustainability efforts, LATAM eliminated approximately 97% of single-use plastics across operations and recycled significant waste on domestic flights throughout the year.
The group's commitment to sustainability was recognized when it rejoined the Dow Jones Sustainability Index as one of the most sustainable airline groups globally according to S&P Global's Corporate Sustainability Assessment (CSA).
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