LATAM's passenger operation for June 2021 is estimated to reach 36% (measured in available seats-kilometers - ASK) relative to the same month in 2019, in a pre-pandemic context. The forecast operation is higher than that of last May (30.8%, measured in ASK), as all markets show higher projections than those of the previous month, largely attributed to the progress of the vaccination rollout in the countries where LATAM operates and the resulting increase in demand.
LATAM estimates approximately 691 daily domestic and international flights in the sixth month of the year, connecting 114 destinations in 14 countries. Meanwhile, the Cargo division has scheduled more than 1,000 cargo freighter flights for June, 20% more than in June 2019. All of these projections are subject to the evolution of the pandemic, as well as travel restrictions in the countries where LATAM operates.
During May 2021, passenger traffic (measured in revenue passenger-kilometers - RPK) was 25.6% compared to the same period of 2019, based on an operation, measured in ASK (available seat-kilometers), of 30.8% relative to May 2019. This implies that the load factor decreased 14.1 percentage points, reaching 69.6%.
In cargo, the load factor was 69.8%, which corresponds to an increase of 13.4 percentage points relative to May 2019.
Given the extension of the health and travel restrictions imposed by the authorities in the different countries where LATAM operates, as well as the analysis of its liquidity position, LATAM’s Board of Directors stated that it made a second draw request under the Debtor-In-Possession (DIP) Credit Agreement for $500 million.
As part of its Chapter 11 Proceedings, LATAM secured a US$2.45bn DIP Term Loan Agreement in September, and draw down its first amount of $1.15bn in October 2020.