The airline, based in Chile and with hubs in Brazil, Colombia, Ecuador and Peru, saw losses of $523.2 million despite operating revenue reaching $2.226 billion, only 6% less than in 2019.
Latam operated 72.6% of its 2019 capacity, “mainly explained by the solidity of domestic markets in Brazil, Colombia and Ecuador”.
Operating expenses increased by 3.5% compared to the same quarter of 2019, driven by a 31.5% increase in fuel year-on-year.
During the period, Latam Group obtained approval of its Reorganization Plan by the US Bankruptcy Court and secured exit financing.
