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