For the full year 2024, LATAM Airlines Group reported a net profit of $977 million, nearly double the previous year, on a 10.6 percent year-over-year increase in revenue to $13.0 billion.
On Friday (January 31, 2024), LATAM Airlines Group reported their financial results for the fourth quarter and full year 2024 for the period ending December 31, 2024. The Group’s fourth quarter 2024 revenue grew 29.1 percent versus Q4 2023 to $3.4 billion. For the full year 2024, LATAM reported a net profit of $977 million on a 10.6 percent year-over-year increase in revenue to $13.0 billion. LATAM Airlines Group carried a record 82 million passengers in 2024, on a 15.1 percent capacity increase compared to FY2023. At year-end 2024, the Group had $3.5 billion in total liquidity.
In Friday’s announcement, LATAM Airlines Group’s CEO, Roberto Alvo, said,
“2024 was a year of great progress for LATAM group, highlighted by strong cash flow generation, and showcasing LATAM’s efficiency and remarkable growth in size, network, and operations. Additionally, LATAM group demonstrated its ability to control costs. This performance was guided by the new purpose: ‘Elevate every single journey’.
LATAM served 151 destinations in 27 countries during 2024, with an average consolidated load factor of 84.3 percent, up 1.2 percent compared to 2023. The Group also received 16 new aircraft in 2024, ending the year with a fleet of 347 aircraft. The company’s loyalty program, LATAM Pass, the largest program in the region, reached a record 49 million members in 2024. Last Year, the company also continued the process of retrofitting their fleet, including complete cabin interior overhauls, new seats, onboard entertainment and design improvements. Currently 100 percent of LATAM’s narrow-body fleet and 54 percent of their widebody fleet have been refurbished. The Group is also in the process installing free Wi-Fi for LATAM Pass customers on domestic and regional flights.
Source: LATAM Airlines Group