Clicky

LATAM Airlines Group in 2021

Care to share?

Let’s look at the financial results of LATAM Airlines Group in 2021. Overall, the airline group had total revenues worth US$5,011.3 million during 2021, a 51.0% decrease compared to 2019 due to the heavy impact of the COVID-19 pandemic and the company’s Chapter 11

proceedings. 

Financial results in a nutshell

This is how LATAM Airlines Group performed in 2021: 

  1. For full-year 2021, LATAM had a US$4.64 billion net loss, a 2.2% increase compared to 2020’s net loss (US$4.54 billion). In 2019, the group had a net profit worth US$190,430.
  2. LATAM carried 40.1 million passengers in 2021, a 42% increase compared to 2020, but still 45.8% below 2019 levels, prior to the COVID-19 pandemic, when it reached 74.1 million travelers, its highest level ever. 
  3. The airline had passenger revenue worth US$3.34 million, still 62.9% below 2019 levels. 
  4. The airline carried 802,000 tons of cargo, still 11.3% below pre-pandemic traffic levels. Nonetheless, cargo revenue soared by 44.8% compared to 2019. 
  5. Total operating expenses were US$6.2 billion. 
  6. At the end of the quarter, LATAM reported US$1,047.2 million in cash and cash equivalents. In addition, LATAM has access to US$1.25 billion of committed liquidity in the DIP financing as part of its Chapter 11 proceedings. 
  7. Finally, LATAM’s EBITDA margin was 0.9% (in 2020 was -6.4%). 

Improvement to close the year

Nonetheless, by 2021’s fourth quarter, the economic performance of the airline had improved significantly compared to the previous months. LATAM said, 

Let’s look at the financial results of LATAM Airlines Group in 2021. Overall, the airline group had total revenues worth US$5,011.3 million during 2021, a 51.0% decrease compared to 2019 due to the heavy impact of the COVID-19 pandemic and the company’s Chapter 11 proceedings. 

Subscriber content – Sign in

Subscribe