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LATAM reports profits of US$125 million for the second quarter of the year in a context of significant rise in fuel prices. Photo LATAM
LATAM Airlines Group announced its financial and operational results for the second quarter of the year, reporting a net profit of US$125 million and an operating margin of 5,4%. At the same time, LATAM reached revenues of US$4,183 million, a 28% more with respect to the same period of 2025. These results were achieved thanks to the solidity of the business model and its disciplined execution., in an exceptional context of high fuel costs. Ecosystem diversification, business flexibility and customer growth Premium and the program LATAM Pass contributed to boosting revenues and strengthening the group's long-term competitiveness.
LATAM with net profit of $125 millions
In the second quarter the group LATAM transported 21,1 million passengers and increased its consolidated capacity by 8,9%. While the international segment grew 11,8%, the domestic capacity of LATAM Airlines Brazil increase 5,7% and the domestic operations of the Chilean subsidiaries, Colombia, Ecuador and Peru grew 5,3%. The load factor was at healthy levels, reaching a 81,8%.
These results were achieved in a particularly challenging quarter in terms of fuel prices.. The costs associated with this item reached US$1,712 million, 93,1% more than the same period of 2025, while the price paid, including coverage, increase 81,3%. In this context, LATAM achieved an adjusted operating margin of 5,4% and a THE EVENTS (earnings before interest, taxes and depreciation and amortization) adjusted US$713 million.
“The results of the second quarter demonstrate the structural solidity of the group as well as the value proposition for clients and its ability to function in a volatile and uncertain environment”, said Ricardo Bottas, CFO de LATAM Airlines Group. The executive added that “the group remains firmly committed to the disciplined execution of a profitable growth strategy.”. LATAM's diversified business model — which has revenues from the premium segment, integrated cargo and loyalty businesses, and financial strength—provided the basis to maintain profitability even during a seasonally weaker quarter and under unprecedented pressures on fuel prices with a strong impact on the group's costs”.
At the same time, LATAM Pass reached 56 million members and continued to deepen the relationship with its customers. The 67% of passenger revenue was generated by LATAM Pass and the number of members of Elite categories grew 26% interannual.
Solid financial position
LATAM generated US$473 million of adjusted operating cash flow during the quarter and closed June with US$2,651 million in cash. Considering your committed and fully available lines of credit, Total liquidity reached US$4,226 million, equivalent to 26,2% of income for the last twelve months.
Adjusted net leverage was 1,5 times, below the limit of 2,0 times established in the financial policy of LATAM.
Recently, Shareholders approved a new shares repurchase program for up to 5% of shares in circulation, for a period of up to five years. The Board of Directors will have the power to determine the start, the mechanism and conditions of execution of this program, subject to the regulations applicable in Chile.
Fleet growth, more connectivity and new Embraer fleet
During the second quarter, the LATAM group received nine aircraft, including two widebody, and closed the period with a fleet of 383 planes.
For his part, LATAM Airlines Brazil announced the first phase of operation with its fleet of Embraer E195-E2 aircraft, a milestone that reflects the group's strategy to continue investing in the country with a long-term vision.
Between November 2026 and March 2027 will be incorporated until 14 aircraft, that will operate 42 routes and will include four new destinations: Cabo Frio (RJ), Ji-Paraná (RO), Macaé (RJ) and Rondonópolis (MT).
As a result, LATAM Airlines Brazil will reach 67 national destinations, in front of the 44 that operated in 2019, representing the widest network in its history. This investment strengthens connectivity, improves customer experience and makes said operation more efficient and sustainable.
What's more, LATAM Airlines Brazil is already evaluating up 18 new destinations for a second phase of expansion planned for 2027, as Embraer delivers new aircraft. It is a new sign of the confidence of LATAM in the potential of Brazil and its commitment to connecting more and more Brazilians with their country and the world.
Perspectives 2026
LATAM updated his perspectives for 2026. Considering the information collected during the last quarter and greater visibility on expected performance, LATAM reincorporates all the guidance parameters, including capacity and income.
The group expects to grow during the year between 9%-10% in terms of capacity compared to the previous year. Adjusted EBITDA is projected between US$4.1 billion and US$4.4 billion, year-end liquidity equal to or greater than US$4.7 billion and adjusted net leverage equal to or less than 1,6 times.
The update considers a more favorable fuel scenario towards the end of the year relative to the guidance above and reflects the consistent execution of LATAM and resilience of your business model.
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