LATAM Airlines has posted a full year nett profit of US$1,3 million (R25,6m) for 2022, after emerging from Chapter 11 bankruptcy protection only in November last year.
In the year, the airline reduced its gross debt by 37,5% to US$6,5 billion (R117,8bn).
Last year, Latam’s operations reached 83,2% of 2019 levels. During 2022, it transported about 62 million passengers, an increase of 22 million from 2021. It finished the year operating flights to 144 destinations across 22 countries – this was a similar number to pre-pandemic levels.
The carrier reached a total revenue of US$9,5 million (R172,1m) for 2022 compared with US$5,1 million (R92,4m) in 2021, an 86,2% increase. This was due to a 128,5% increase in passenger revenues and a 12% increase in cargo revenues, reports the airline.
For 2023, LATAM expects annual growth of 20% over its passenger and cargo operations, reflecting its transformation after its reorganisation under Chapter 11 rules (the airline was able to continue operating but was restructured).
Latam plans to fly 38 new routes this year, including two under its joint venture agreement with Delta Air Lines.
