South America's largest carrier, LATAM expects double digit revenue growth this year, according to a company guidance to stock markets. The Chile-based airline's revenues are expected to reach between US$ 11 billion and US$ 11.5 billion by the end of this year, compared to US$ 9.5 billion estimated for 2022, which if achieved would mark an increase of nearly 16% to 21%.
Fresh air for highly indebted Latam, probably still the largest Latin American air carrier. In effect, a group of banks led by Goldman Sachs Group Inc. has launched a leveraged loan sale that will support Latam Airlines Group SA’s exit from bankruptcy.
LATAM Airlines has announced an increase in its number of flights between Montevideo and Santiago de Chile starting in September and growing steadily through December as the Uruguayan capital's Carrasco International Airport picks momentum worldwide.
“A historic event” is how Guillermo Carmona, the Argentine Secretary for Malvinas, South Atlantic islands, and Antarctica affairs described the confirmed resumption of the weekly air link between Punta Arenas in Chile and the Falkland Islands, with a monthly stop over at Rio Gallegos in Santa Cruz province.
Following the announcement made on 7 April 2022, the air link between the Falkland Islands and Chile will resume on Saturday 2 July 2022. LATAM flight schedules will be reinstated with flights stopping in Punta Arenas and Santiago, and once a month stopping in Rio Gallegos.
Latam Airlines has agreed to follow Boeing's advice and not use the 777 models for its services between Brazil and the United States to avoid problems stemming from 5G cell phone antennas which may interfere with navigation gear.
With 18% of its crews on sick leave due to COVID-19, Latam Airlines Colombia has been forced to cancel some 53 domestic flights between Jan. 8 and 16. Most of the cases were said to be of the Omicron variant.
Latam Airlines stock plunges over 80% at the Santiago market after a reshaping plan was announced, one which evaporated the value of current shares. The proposal is yet to be voted on by creditors between January and February 2022.
LATAM Airlines Group said on Friday it had filed a reorganization plan, proposing a US$8.2 billion injection of capital in a bid to exit its Chapter 11 bankruptcy process, and at the same time announced it had rejected the Brazilian airline Azul acquisition proposal as “incomplete” and “insufficient”.
LATAM reported on Tuesday that during the third quarter of this year it registered a net loss of US$ 691.9 million, due to the costs of maintenance and the expenses of the restructuring carried out by the pandemic.