LATAM AIRLINES GROUP (LTM) Company Report

LATAM Airlines Group reported strong Q3 2025 financial results, with total revenues reaching $3.9 billion, an increase of 17.3% year over year, and net income totaling $379 million. The adjusted operating margin expanded to 18.1%, and adjusted EBITDA reached $1.15 billion.
Operationally, the group transported over 22.9 million passengers with capacity growing 9.3% year over year and consolidated load factors of 85.4%. Passenger unit revenues increased by 8.4% year over year while unit costs remained broadly stable.
The company updated its full-year 2025 guidance, projecting adjusted EBITDA between $4 billion-$4.1 billion, approximately 9% higher than previous estimates, and a forecasted year-end leverage of 1.4 times.
LATAM executed a $433 million share repurchase program in Q3 2025 and announced the acquisition of up to 74 Embraer E2 aircraft to enhance regional connectivity, with 24 E2s scheduled for delivery in Q4 2026 and 2027. The group aims for high single-digit consolidated capacity growth in 2026.

Nov 17, 2025, 1:00 PM

Transcript

LATAM Airlines Group Reports Strong Q3 2025 Results, Raises Full-Year EBITDAR Guidance

LTM

Earnings

Guidance Update

Share Buyback

LATAM Airlines Group reported strong Q3 2025 financial results, with total revenues reaching $3.9 billion, a 17.3% increase year-over-year, and net income totaling $379 million, up 26% year-over-year.
The company's adjusted operating margin expanded to 18.1%, and adjusted EBITDAR reached $1.15 billion during the quarter.
Operationally, LATAM transported over 22.9 million passengers with capacity growing 9.3% year-over-year and consolidated load factors of 85.4%.
LATAM updated its full-year 2025 guidance, refining adjusted EBITDAR to be between $4 billion-$4.1 billion, approximately 9% higher than previous guidance, and forecasting year-end leverage at 1.4 times.
Strategic initiatives include the execution of a $433 million share repurchase program and an agreement for the acquisition of up to 74 Embraer E2 aircrafts to enhance regional connectivity and fuel efficiency.

Nov 17, 2025, 1:00 PM

Transcript

LATAM Airlines Group Reports Strong Q3 2025 Results and Updates Full-Year Guidance

LTM

Earnings

Guidance Update

Share Buyback

LATAM Airlines Group reported strong financial results for Q3 2025, with total revenues reaching $3.9 billion, an increase of 17.3% year over year, and net income totaling $379 million. The adjusted operating margin expanded to 18.1%, and adjusted EBITDA reached $1.15 billion.
Operationally, the company transported over 22.9 million passengers in Q3 2025, with capacity growing by 9.3% year over year and consolidated load factors at 85.4%. Passenger unit revenues (RASC) increased by 8.4%.
During the quarter, LATAM executed its second share repurchase program for a total of $433 million.
The company signed a major agreement for the acquisition of up to 74 Embraer E2 aircraft, with 24 E2s confirmed for delivery starting in Q4 2026, enhancing regional connectivity and contributing to an order book exceeding 140 aircraft through 2030.
LATAM updated its full-year 2025 Adjusted EBITDA guidance to a range of $4 billion-$4.1 billion, approximately 9% higher than previous estimates, and the forecasted leverage for year-end is now 1.4 times.

Nov 17, 2025, 1:00 PM

Transcript

LATAM Airlines Group Reports Strong Q3 2025 Results and Raises Full-Year Guidance

LTM

Earnings

Guidance Update

Share Buyback

LATAM Airlines Group reported strong financial results for Q3 2025, with Total Revenues increasing by 17.3% to US$3,856 million and Adjusted EBITDAR growing by 38.9% to US$1,150 million compared to Q3 2024.
The company's net income attributable to owners of the parent company rose by 25.8% to US$379 million in Q3 2025, and it ended the quarter with US$3.6 billion in liquidity and an adjusted net leverage of 1.5x.
Based on year-to-date performance, LATAM updated its full-year 2025 guidance, revising Adjusted EBITDAR upwards to US$4.00-US$4.10 billion.
Shareholders approved the cancellation of 30,221,893,878 outstanding shares held in Treasury on October 17, 2025, and the company also announced an agreement to acquire up to 74 Embraer E195-E2 aircraft with deliveries starting in 4Q26.

Nov 17, 2025, 11:11 AM

6-K

LATAM Airlines Group S.A. Reports Q3 2025 Financial Results and Share Capital Reduction

LTM

Earnings

Share Buyback

Accounting Changes

LATAM Airlines Group S.A. reported revenue of $3,798,947 ThUS$ and net income of $380,899 ThUS$ for the three months ended September 30, 2025.
For the nine months ended September 30, 2025, revenue reached $10,390,380 ThUS$ and net income was $979,337 ThUS$.
As of September 30, 2025, the company's total assets stood at $16,985,236 ThUS$, with total liabilities of $15,890,890 ThUS$, and total equity of $1,094,346 ThUS$.
Basic earnings per share were $0.000652 for the three months ended September 30, 2025, and $0.001642 for the nine months ended September 30, 2025.
An Extraordinary Shareholders’ Meeting on October 17, 2025, approved the early cancellation of 30,221,893,878 treasury shares, resulting in a US$585,424,212 reduction in share capital.

Nov 17, 2025, 11:05 AM

6-K

LATAM Airlines Group Reports Strong October 2025 Operating Statistics

LTM

Revenue Acceleration/Inflection

New Projects/Investments

LATAM Airlines Group transported 7.7 million passengers in October 2025, representing a 7.7% increase compared to October 2024. Year-to-date, the group carried 72.2 million passengers, up 6.7% from the same period in 2024.
Consolidated capacity, measured in available seat-kilometers (ASK), increased by 7.4% in October 2025 compared to October 2024, while consolidated traffic (RPK) grew by 7.2%.
The group's consolidated load factor reached 85.5% in October 2025.
Growth was notably driven by LATAM Airlines Brazil's domestic capacity, which increased by 13.2%, and a 14.8% year-over-year increase in its domestic market demand.

Nov 12, 2025, 11:45 AM

6-K

LATAM Airlines Group Reports September 2025 Operating Statistics

LTM

New Projects/Investments

Product Launch

LATAM group's consolidated capacity, measured in available seat-kilometers (ASK), increased by 8.7% in September 2025 compared to the same period in 2024, driven by a 9.6% increase in international operations and a 14.0% increase in LATAM Airlines Brazil's domestic capacity.
Consolidated traffic, measured in revenue passenger-kilometers (RPK), grew by 8.8% in September 2025, with LATAM Airlines Brazil's domestic market showing a 17.0% year-over-year increase.
The group transported 7.3 million passengers in September 2025, an 8.0% increase from September 2024, and 64.5 million passengers year-to-date through September 2025.
The consolidated passenger load factor remained stable at 84.2% in September 2025.
Cargo capacity, measured in available ton-kilometers (ATK), increased by 2.9% in September 2025 compared to the previous year, reaching 688 million.

Oct 8, 2025, 8:22 PM

6-K

LATAM Airlines Group S.A. Announces Underwriting Agreement for ADS Offering

LTM

LATAM Airlines Group S.A. entered into an Underwriting Agreement on September 24, 2025, with J.P. Morgan Securities LLC and Goldman Sachs & Co. LLC as underwriters.
The agreement facilitates the sale of an aggregate of 15,503,784 American Depositary Shares (ADSs) by selling shareholders, with each ADS representing 2,000 common shares of the Company.
This offering is connected to a registration statement on Form F-3 filed on July 18, 2024, and an accompanying prospectus supplement dated September 24, 2025.

Sep 26, 2025, 8:01 PM

6-K

LATAM Airlines Group Announces Pricing of Fifth Secondary ADR Sale

LTM

Shareholders of LATAM Airlines Group S.A. have agreed to sell 15,503,784 ADRs in a fifth secondary sale under a registration rights agreement.
The ADRs will be sold to investors at a price of US$43.60 per ADR, which is equivalent to CLP$41,561.264 per ADR.
Each ADR represents 2,000 shares of the Company, with payment for the sale scheduled for September 26, 2025.

Sep 24, 2025, 11:37 PM

6-K

LATAM Airlines Group S.A. Shareholders Launch Equity Offering

LTM

LATAM Airlines Group S.A. announced on September 24, 2025, that certain shareholders, affiliates of Strategic Value Partners, LLC, launched a public offering to sell 15,503,784 American Depositary Shares (ADSs).
The company will not receive any proceeds from the sale of ADSs by the selling shareholders.
The last reported per ADS price of LATAM ADS on September 23, 2025, was $47.62.
J.P. Morgan Securities LLC and Goldman Sachs & Co. LLC are acting as underwriters for the offering.

Sep 24, 2025, 8:34 PM

6-K

Earnings Transcripts

Quarterly earnings call transcripts for LATAM AIRLINES GROUP.

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