Felipe Vilanova

Felipe Vilanova sought clarification on the net debt guidance miss, specifically how the $400 million interim dividend related to minimum dividends, and inquired about the currency breakdown of LATAM's debt.

Answer

CEO Roberto Alvo clarified that the $400 million interim dividend paid in December was an advance on the minimum dividends typically paid in April, thus impacting the December 31 net debt figure which was not in previous guidance. CFO Ricardo Bottas stated that almost 100% of LATAM's debt is in US dollars, with only one local bond of approximately $160 million in Chilean local currency.

Felipe Vilanova sought clarification on the discrepancy between net debt guidance and actuals, specifically regarding the $400 million dividend, and asked for the currency breakdown of LATAM's debt.

Answer

CEO Roberto Alvo clarified that the $400 million paid in December was an advance on minimum dividends for the following year, which was not included in the prior guidance for year-end net debt. CFO Ricardo Bottas stated that almost 100% of LATAM's debt is denominated in US dollars, with only one local bond of approximately $160 million in Chilean currency.