LATAM cerró the 2021 with continuous improvements in your income, reductionón of unit costs and important advances in its process of Capíleakage 11.
The LATAM group today announced its financial results corresponding to the 4Q of the yearñO 2021, those that account for the continuous improvement in levels of tráI'm theéprisoner as a result of the flexibilityón of travel restrictions and the vaccination processón.
During the úLast quarter, total operating income amounted to US$1,995.9 million, that is to say, 30,5% below the levels of 2019, but 51,9 % higher compared to the third quarter of 2021. And for the first time since the start of the pandemic, the group registeredó a positive operating result, that I went upó to US$73.4 million during the quarter.
At the general level, during the 2021, Total revenues reached US$5,111.3 million, a decreaseón of the 51,0% with respect to 2019.
Group operations LATAM they reached the 63,5% of the levels of 2019 during the quarter (measure in ASK), which corresponds to an increase in the capacity of the 29,6% in comparisonón with the third quarter of 2021, fundamentally driven by the reactivationón of the tráI'm giftéstic.
As in previous quarters of 2021, the operations of the freight subsidiaries of LATAM continued to show a sóread performñO, with income that increased 66,0% in comparisonón with the same personíodo of 2019 amounting to US$464.8 million. Until now, the slow recoveryón of international flights has made it impossible to return to pre-pandemic levels.
Total operating expenses were US$1,992.4 million in the fourth quarter of 2021, which represents a decreaseón of the 23,7 % in comparisonón with the same personíodo de 2019, after restructuring effortsógroup cost number. The CASK (cost per ask) ex fuel betteró a 25,0% compared to the third quarter of 2021, from US$7.4 cents to US$5.6 cents. The costs linked to operations continueústill below pre-pandemic levels 2019, but they have shown an increase in úrecent quarters driven by recoveryón operational and the sharp increases in fuel prices.
Roberto Alvo, CEO of LATAM, maintained that:
“we hope that the operationón continúand recoverágoing to reach the magnitudes that I knowímasters in 2019, But we cannot lose sight of the fact that we find ourselves in an uncertain context.ódue to the effects of the new variants of COVID-19, but now alsoén for the tensionón of a conflict bélic that has the world on alert and that impacts the price of oilóleo”.
The group isá awaiting approvalón de su Declareón of Disclosureón by the Court in USA. On the other hand, Eastá aiming to get out of Capíleakage 11 during the second half of 2022, closing a stage of important transformationón that has allowed the creation of an organizationón renewed, más ágil, with a balance sólido, a very competitive cost structure and good level of liquidity, what to allowá address the challenges on the right footingíthe futures of the business.
During the 2021, the LATAM group does not knowóthe simplifyó processes, radishñó fleet strategies, renegotiateó contracts and restructuringó costs, but alsoén took a fundamental step for the projectionón future operations. In the midst of the pandemic, LATAM presentó its sustainability strategy 2050 with focus on climate changeático, economíto circulate and shared value.
The sustainability strategy considers well-defined goals: zero waste in landfills for 2027, carbon neutrality 2050 and Protectionón of ecosystems icóunique in Américh from the South. In this úlast áscope highlights the alliance between LATAM and Fundación Cataruben for conservationón y the restaurantón of an ic ecosystemóUnique from Sudamérica, 200 mil hectáflooded savannah areas located in the Orinocoíto of Colombia.
Through the program “Avión Solidarity”, that seeks to generate value in society throughés transportation of passengers and cargo at no cost, the group has mobilized más de 232 millions of vaccines against Covid-19, además to transport más de 3.400 health professionals to address urgent needs related to the pandemic.
