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During 2023, LATAM Airlines Group recorded a growth of 23,9% in comparison with 2022 and with a liquidity of US $ 2,815 million.
LATAM today announced its financial results for the fourth quarter and the full year of the 2023, showing solid financial and operational performance during said period with net profits of US$582 million.
At the close of 2023, LATAM recorded revenues of US$11,789 million, 23,9% more than 2022, reaching an adjusted operational margin of 11,3%. In the fourth quarter of 2023, The group obtained income for US $ 3,251 million, 18,5% more than the same period of the previous year, explained mainly for the sustained growth of passenger income, that increased a 24,3% in relation to the last three months of 2022.
Positive results in 2023 para LATAM Airlines
LATAM Airlines Group closed the 2023 with solid financial and operational performance, reflecting the company's resilience and commitment to post-pandemic recovery. Next, I detail some of the most relevant milestones shared by the airline:
Financial results:
- Net utility: US $ 582 million
- Income: US $ 11,789 million (increase in 23,9% with respect to 2022)
- Adjusted operational margin: 11,3%
- Liquidity: US $ 2,815 million
- Net indebted ratio: 2,1 times (the lowest in LATAM history)
Operational milestones:
- passengers transported: 74 millions (similar a 2019)
- International passenger increase: 50,1%
- ASK Recovery: 95,5% of the levels of 2019
- new planes: 30 (5 long -range and 25 short -range)
- New routes: 21 (17 international and 4 domestic)
- Market share: Increase in Colombia (9 percentage points)
- Reduction of single-use plastics: 96%
- Solidarity alliances: 50 in five South American countries
Improvements for customers:
- Premium cabin on all flights
- Wifi in the 65% of the fleet
- New website with complementary services
- NPS: 48 p.p. (increase in 2 p.p. with respect to 2022)
- Load: NPS DE 58 p.p. (increase in 7 p.p. with respect to 2022)
Recognition:
- LATAM Pass: “Best program of the year” by Frequent Traveler Awards 2023
- LATAM Airlines Group: “Best airline group in the region” by Skytrax World Airline Awards 2023 (fourth consecutive year)
Projections for 2024:
- Passenger growth: 12% a 14% (ASK)
- Adjusted ebitdar: US $ 2.6 billion at US $ 2.9 billion
- Net indebted ratio: 1,8 a 2,0 times
Last December, The LATAM group presented its guidance for the 2024, where it projected a growth in its passenger operations between 12% and 14% (measured in available seat kilometers – ASK), exceeding pre-pandemic levels in the first quarter of this year. At the same time, the company expects adjusted EBITDAR (earnings before interest, taxes, depreciation and amortization and rent costs for its acronym in English) Between US $ 2.6 billion and US $ 2.9 billion, and a net indebted indebtedness ratio between 1,8 and 2,0 times.
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