The LATAM Airlines Group is a holding company, a product of the merging of Chile’s and Brazil’s flag carriers (LAN and TAM). Nowadays, it constitutes Latin America’s largest airline company. With subsidiaries in six South American countries, LATAM serves more than 110 destinations throughout Latin America and the Caribbean as well as in North America and Europe.
At the onset of the COVID-19 pandemic, the global aviation industry was forced to a standstill, putting LATAM’s survival at risk. In May 2020, the Chilean-Brazilian company filed for bankruptcy under Chapter 11 in the United States, as part of a bailout plan to guarantee its continuity. By the end of that year, LATAM had already resumed operations in most of its domestic markets, though its passenger traffic remained below pre-pandemic averages. On the other hand, the airline decided to cease its activities in Argentina from June 2020 onwards, after 15 years of operation in that market.
Surviving the financial crash
For most passenger airlines worldwide, the COVID-19 pandemic posed the greatest financial challenge in their history. For LATAM, this crisis meant a reduction of nearly 60 percent of its total operating revenue in 2020, a fall that was in a way mitigated by its cargo segment. In that year, the airline’s revenue from cargo operations registered an increase of nearly 15 percent when compared to the year before. Despite this growth, LATAM recorded net losses of more than four billion U.S. dollars in 2020, while it also reported a negative EBITDA for the first time since at least 2016.
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In the following 5 chapters, you will quickly find the 31 most important statistics relating to "LATAM Airlines Group".