LATAM Airlines has posted strong results for full-year and fourth-quarter 2025.
The company's full-year net income totalled $1.5bn, rising 49.4% compared to 2024.
Revenues rose 11.2% to $14.5bn, while total operating expenses increased 6.7% to $12.1bn. This resulted in an operating income of $2.4bn, up 41.8%.
Fourth-quarter revenues increased 16.3% to $3.95bn, while operating expenses rose 12.1% to $3.3bn. This resulted in an operating income of $656.5 million, up 42.7%.
Net income swung from a loss of $542,000 in the fourth-quarter of 2024 to a profit of $484.3 million.
“The results reflect a strengthened business model, supported by a differentiated value proposition, consistent operational execution and financial discipline, which has enabled the group to grow profitably and sustainably,” said LATAM Airlines CEO Roberto Alvo.
As of the end of the year, the company's fleet consisted of 291 Airbus narrowbody aircraft, three Airbus widebody aircraft under short-term leases, 57 Boeing widebodies, and 20 Boeing cargo freighters — a total of 371 aircraft.
The airline received 26 aircraft during 2025, including 21 A320neo, three A321neo, one 787-9, and one A330 under a short-term lease.
The company expects its total fleet to increase to 410 jets, including 391 commercial jets by the end of 2026.
For 2026, LATAM expects capacity to grow 8-10% versus 2025. This includes a 11-13% international capacity growth, as well as a 6-8% growth in domestic capacity and 5-7% rise in Spanish-speaking countries.
Revenues for 2026 are guided to be around $15.5 to $16bn. Adjusted operating income is expected to be $2.35 to $2.65bn. Adjusted EBITDA is guided to be $4.20bn to $4.60bn.
The company expects 2026-end liquidity to be below $5bn, and total net debt to be below $6.2bn. Total net debt to adjusted EBITDAR is expected to be below 1.4x.