Latam Airlines

What Latam Airlines does

LATAM Airlines Group S.A. is the largest airline group in South America, operating across 24 countries with 340+ aircraft and serving 87.4 million passengers in 2025. The company was formed in 2012 through the merger of LAN (Chile) and TAM (Brazil), filed for Chapter 11 bankruptcy in May 2020 due to COVID-19 disruption, and emerged in 2022 after raising $5 billion in capital and cutting approximately $1 billion in annual costs. LATAM holds roughly 40% capacity share in the domestic Brazil market and nearly 50% of the Brazilian corporate travel segment, with hubs in Santiago, São Paulo, Bogotá, Lima, and Miami. The Delta Air Lines joint venture covers approximately 33% of combined South-North America capacity, providing structural cross-continental connectivity.

LATAM generates revenue primarily through scheduled passenger air transportation in economy and premium cabins, complemented by LATAM Cargo (the largest air cargo operator in South America), the LATAM Pass loyalty program, and ancillary services including baggage, seat selection, LATAM Wallet payments, and eSIM. Pricing follows a transaction-based model with route, cabin, and seasonal variation, alongside a miles-plus-cash hybrid option for loyalty members. Distribution runs through direct digital channels (latam.com, mobile app), the LATAM Trade travel-agency portal, corporate sales agreements, and partner networks including Delta, WestJet, and Revo. The technology stack centers on a digital booking platform, an AI-powered concierge agent (approximately 4,000 daily users, six specialist sub-agents, presented at LangChain Interrupt 2026), and the recently redesigned Premium Business cabin (December 2025, APEX Best Cabin Service 2026). Fleet renewal is in progress with 41 aircraft deliveries planned for 2026 (Boeing 787, Airbus A321neo, Embraer E2), supported by a switch to Rolls-Royce Trent 1000 XE engines and a CDB Aviation lease for five A321neos.

LATAM reported full-year 2025 total operating revenues of $14.5 billion (16% YoY growth) and net income of $1.5 billion (49.4% YoY increase), with Q1 2026 revenue of $4.15 billion (21.7% YoY growth). The balance sheet carries a 1.5x adjusted net leverage ratio, $3.7 billion in liquidity, an S&P BB rating with positive outlook, and a market capitalization range of $14-19 billion. Strategic priorities for 2026 include 8-10% capacity growth, 15-17% adjusted operating margin, leverage reduction below 1.4x EBITDA, and scaling Sustainable Aviation Fuel (SAF) operations — supported by partnerships with Fedepalma (Colombia palm oil SAF), Kuehne+Nagel (cargo SAF), AquaChile, and PONANT — alongside continued premium-cabin and loyalty ecosystem expansion.

Name

Latam Airlines

Legal name

LATAM Airlines Group S.A.

Website

https://latam.com

Company type

Public

Founded year

2012

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

LATAM Airlines Group is South America's largest airline, operating 340+ aircraft across 24 countries and serving 87 million passengers annually with passenger, cargo, and loyalty services. It generates $14.5 billion in revenue through scheduled flights, LATAM Cargo, and the LATAM Pass loyalty program.

Ownership category

akta.pro rank

Product category

Commercial Air Transportation

NAICS

Scheduled Passenger Air Transportation (481111), Scheduled Air Transportation (48111), Air Transportation (481)

SIC

Air Transportation, Scheduled (4512), Air Transportation, Nonscheduled (4522)

akta.pro primary industry

Global Network (Intercontinental) Full-Service Airlines (THABAAAA)

akta.pro secondary industries

Long-Haul Full-Service Airlines (Widebody Operators) (THABAAAH), Full-Service Airlines (Passenger + Belly Cargo Integrated) (THABAAAF)

Keywords

• Passenger air transportation
• Air cargo services
• Airline loyalty program
• Premium cabin service
• Aircraft maintenance services

Headquarters

HQ city

Las Condes

HQ country

Chile

HQ region

Latin America

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Technology or R&D, Marketing or Sales, Supply Chain

Revenue model

1. Passenger Transportation: Core airline operations generating majority of revenue through scheduled passenger flights across economy and premium cabins. LATAM transported 87.4 million passengers in 2025 with revenue of $14.5 billion total operating revenues.
2. Cargo Operations: LATAM Cargo Group recognized as largest air cargo operator in South America, serving perishable goods (flowers, salmon), general cargo, and e-commerce with B767 freighters and SAF initiatives.
3. LATAM Pass Loyalty Program: Miles-based loyalty program allowing members to earn and redeem miles for flights, upgrades, and partner services. Partnerships with Revo for premium ground transport and hotel booking through Booking.com integration.
4. Ancillary Services: Baggage fees, seat selection, priority boarding, LATAM Wallet payment option, eSIM products, and other optional services generating additional revenue per passenger.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels7 records

Core offering

LATAM Airlines Group is a commercial airline group that sells scheduled passenger air transportation across South America, North America, Europe, and Oceania with a fleet of 340+ aircraft operating in 24 countries. It complements passenger operations with air cargo transportation through LATAM Cargo (the largest air cargo operator in South America) and the LATAM Pass miles-based loyalty program. Ancillary offerings include LATAM Wallet digital payments, Premium Business cabin service, the LATAM Trade portal for travel agencies, and eSIM connectivity for travelers.

Product overview

LATAM Airlines Group operates as a diversified airline conglomerate offering passenger air travel, cargo services, and loyalty programs. The core LATAM Airlines passenger service forms the foundation, supplemented by LATAM Pass loyalty program (allowing miles redemption and earning across partners), LATAM Cargo freight operations, and LATAM Wallet digital payments. Additional services include LATAM Experience (trip preparation, airport, and inflight), LATAM Premium Cabin (lie-flat business class), LATAM Trade (travel agency portal), and eSIM connectivity. The group serves 24 countries with 340+ aircraft, positioning as South America's largest airline operator with approximately 87 million annual passengers.

Differentiator

Problem solved

Functional benefit

Brands

• LATAM Pass: Frequent flyer loyalty program allowing members to earn and redeem miles for flights and other rewards
• LATAM Wallet
• LATAM Cargo
• LATAM Premium Business

Products and services

• LATAM Airlines Passenger Air Transportation Full-service commercial passenger airline operating scheduled flights across Economy and Premium Business cabins, serving 87.4 million passengers in 2025 with a fleet of 340+ aircraft across 24 countries. Targeted at leisure and business travelers needing connectivity within and beyond South America.
• LATAM Cargo Air cargo transportation service recognized as the largest air cargo operator in South America, serving perishable goods (flowers, salmon), general cargo, e-commerce, and SAF-powered shipments for exporters, freight forwarders, and logistics companies. Operates B767 freighters with sustainability options including Book & Claim certified emissions reductions.
• LATAM Pass Loyalty Program Miles-based frequent flyer loyalty program allowing members to earn and redeem miles for flights, cabin upgrades, hotel bookings via Booking.com integration, and partner services including Revo premium ground transport. Targeted at frequent individual travelers who accumulate LATAM Pass miles on flights and partner purchases.
• LATAM Premium Cabin (Premium Business) Premium Business cabin service featuring lie-flat seats, advanced in-flight entertainment, and enhanced onboard amenities, redesigned in December 2025 as a 'disruption-proof sanctuary'. Targeted at premium long-haul travelers seeking elevated comfort on international routes.
• LATAM Wallet Digital payment wallet integrated into the LATAM booking platform allowing customers to store payment methods and pay for flights and ancillary services. Targeted at individual consumers who want a streamlined checkout experience within the LATAM ecosystem.
• LATAM Trade Travel Agency Portal B2B portal providing travel agencies with booking tools, commission structures, corporate account access, and bulk booking capabilities to distribute LATAM inventory. Targeted at travel agencies and tour operators distributing LATAM flights across its 24-country footprint.
• LATAM eSIM Mobile connectivity add-on service offering eSIM data packages for international travelers using LATAM services. Targeted at individual international travelers needing mobile data while abroad.

Quantifiable outcome

• 87.4 million passengers transported in 2025
• +5 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability3 records

Feature1 record

Partnerships

Twelve partnerships are on record, tiered core, minor and flagship.

• PONANT EXPLORATIONScoreStrategic or Co-development Partner · 27 June 2026Partnership for 13 passenger charter flights between Santiago and Ushuaia using Sustainable Aviation Fuel, achieving approximately 160 tonnes of CO2 emissions reduction. Initiative delivered ~75% lifecycle emissions reduction compared to conventional jet fuel, supporting LATAM's net-zero by 2050 strategy.
• Rolls-RoycecoreTechnology or Integration · 30 April 2026Order for Trent 1000 XE engines to power three Boeing 787 Dreamliners, marking a breakthrough for Rolls-Royce in switching LATAM from GE Aerospace engines. Engines assembled in Derby with upgraded high-pressure turbine blades offering over double time-on-wing compared to earlier versions.
• Delta TechOpscoreStrategic or Co-development Partner · 21 April 2026Long-term commercial agreement for A320 component repair services at LATAM's São Carlos MRO facility in Brazil. Delta TechOps serves as sole commercial interface for external customers while LATAM provides component maintenance expertise. Agreement positions partnership to address growing A320 maintenance demand in Latin America.
• AquaChileminorOthers · 19 March 2026Salmon exporter partnered with LATAM Cargo for SAF-powered transport achieving 10% CO2 reduction certification via Book & Claim mechanism for US-bound shipments.
• gategroupcoreStrategic or Co-development Partner · 17 March 2026Multi-year partnership extension to enhance onboard gastronomy, service standards, and operational performance across LATAM's network. Focus on new culinary concepts, operational efficiency, and digital tools deployment at key hubs.
• AviancaminorOthers · 14 February 2026Joint response to Venezuela earthquake: Avianca and LATAM Colombia announced flexible rebooking policies for passengers affected by earthquake, with mutual assistance for date changes, refunds, and route modifications.
• Kuehne+NagelcoreStrategic or Co-development Partner · 13 February 2026Largest SAF operation in Latin America: 130,000 liters of SAF for eight B767 cargo flights on Bogotá-Miami route, reducing ~300 tonnes CO2e for Valentine's Day flower shipments from Colombia to US.
• The Elite FlowerminorOthers · 13 February 2026Flower exporter utilizing LATAM Cargo SAF-powered transport for sustainable airfreight from Colombia to US market, demonstrating emissions reductions for perishable supply chains.
• WestJetminorGTM or Marketing Partner · 20 January 2026Partnership enabling WestJet's Calgary-São Paulo route with LATAM offering onward connections to 30+ South American destinations, expanding LATAM's connectivity reach through partner network.
• RevocoreGTM or Marketing Partner · 10 December 2025First-of-its-kind partnership in South America allowing LATAM Pass Black Signature and Black members to earn miles when flying Revo premium ground transport (armored vehicles and helicopters) between São Paulo's Faria Lima and Guarulhos International Airport.
• Fedepalma (Colombia)coreStrategic or Co-development Partner · 17 July 2025Five-year technical and scientific cooperation agreement to promote SAF development in Colombia using local palm oil as raw material. Positions Colombia as regional benchmark for sustainable aviation fuel production.
• Delta Air LinesflagshipStrategic or Co-development Partner · 1 January 2019Delta holds a significant equity stake in LATAM Airlines Group and operates a joint venture covering approximately 33% of combined South-North America capacity. The partnership provides seamless connectivity between South America and North America via Miami hub, with mutual loyalty integration and codeshare arrangements.

Scale indicators12 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Copa Airlines: Copa Airlines is a full-service network carrier based in Panama City with a comparable Latin American hub model, competing with LATAM on South-to-North America and intra-Latam connecting traffic via the Hub of the Americas.
• Avianca: Avianca is the second-largest full-service carrier in South America with a similar hub-and-spoke network across Colombia, Peru, and Ecuador. It is the closest head-to-head competitor on intra-South America routes and long-haul to North America, and even cooperates with LATAM on ad hoc events (e.g., Venezuela earthquake response).
• GOL Linhas Aéreas: GOL is LATAM's primary domestic Brazil competitor and the second-largest carrier in the country. The two are jointly under CADE investigation for potential price alignment, underscoring how directly they compete for the same Brazilian leisure and corporate passengers.
• JetSMART Airlines: JetSMART is a fast-growing ultra-low-cost carrier expanding across Chile, Argentina, Peru, and Brazil. It competes directly with LATAM on price-sensitive leisure segments within South America and is the principal LCC threat to LATAM's domestic yields.

Emerging players

• Sky Airline: Sky Airline is a Chilean low-cost carrier expanding domestically in Chile and Peru. Listed as a LATAM subsidiary in the data, it competes primarily in the price-sensitive leisure segment overlapping LATAM's short-haul network.

Regional players

• Volaris: Volaris is a leading Mexican ultra-low-cost carrier with growing South America routes. Comparable on low-cost unit economics and ancillary revenue strategy; competes with LATAM on Mexico-South America and intra-Mexico connecting flows.
• Aerolineas Argentinas: Argentina's flag carrier competes with LATAM on domestic Argentina routes and Argentina-US long-haul, with comparable full-service product positioning though materially smaller scale and network reach.

Broad incumbents

• Delta Air Lines: Delta is both a JV partner and a competitor; it holds a significant equity stake in LATAM and operates a joint venture covering ~33% of South-North America capacity. As a global network incumbent, it is the most relevant US-carrier peer and benchmarks LATAM's premium and corporate positioning.
• American Airlines: American is a global network incumbent with a major US-Latin America operation (Miami hub). It competes with LATAM and the Delta JV on US-South America long-haul and corporate accounts, and is a key indirect competitor for premium-yield passengers.

Others

• Atlas Air: Atlas Air is a leading global air cargo and charter operator. Comparable as a benchmark for LATAM Cargo on freight operations, ACMI wet-lease economics, and global cargo capacity dynamics, even though it does not compete on passenger services.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/latamairlines
• YouTubeyoutube.com/user/LANAirlinesUSA
• Facebookfacebook.com/latamairlines
• LinkedInlinkedin.com/company/latam_airlines
• Instagraminstagram.com/latamairlines

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries6 records

Funding overview

Funding rounds7 records

Investors7 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Latam Airlines