The largest airline company in Latin America, the LATAM group, estimates a rise of 12-14% in available seat kilometres for its passenger operations in 2024; projecting to surpass 2019 levels during the first quarter of the year. Growth within the Brazilian domestic market is also projected to be between 7-9%.
LATAM Cargo’s subsidiaries are also predicted to benefit from a similar strong growth of between 10-12% (measured in available ton kilometres). A total of 19 freighter aircraft (completing a fleet expansion plan first announced in 2021) will reinforce LATAM Cargo’s subsidiaries as the largest cargo airline group in Latin America.
“LATAM group projections for next year predict a strong operational and financial performance, as well as the group’s competitiveness,” commented Ramiro Alfonsin, CFO of LATAM Airlines Group.
The group forecasts record adjusted EBITDAR between US$2.6 billion and $2.9 billion for 2024, while continuing to decrease its net leverage. This is expected to close 2024 between 1.8x and 2.0x (representing an approximate 50% reduction from its leverage level following its post-Chapter 11 restructuring process). LATAM also projects liquidity of between $2.8 billion and $3.0 billion for the end of next year.