LATAM Airlines NYSE
LATAM Airlines Group celebrated its return to the New York Stock Exchange (NYSE) today with the symbolic Ring the Bell ceremony. This re-listing marks a key moment in the airline’s recovery from the financial turbulence brought on by the pandemic. The airline exited the NYSE in 2020 due to financial restructuring.
The return to the stock market officially took place on July 25, 2024, with the reopening of its American Depositary Receipts (ADR) program. The airline’s shares were re-listed after a secondary public offering set at USD 24 per ADR, with shareholders selling 19,000,000 shares. Today, LATAM trades at USD 27.39, reflecting investor confidence in its ongoing recovery.
LATAM took this opportunity to update its financial outlook for 2024. The airline projects a capacity growth of 15% to 16% compared to the previous year and anticipates an adjusted annual EBITDAR between USD 3.0 billion and USD 3.15 billion, surpassing earlier forecasts. This optimistic projection highlights LATAM’s recovery trajectory since its original listing on the NYSE in 1997 under the name LAN Chile.
In addition to its financial success, LATAM has outlined an aggressive fleet expansion strategy. The airline has secured orders for over 120 aircraft through 2030, including 106 narrow and 19 wide-body planes. These orders, alongside a recent purchase of 10 Boeing aircraft, were announced during the company’s Investor Day.
During the Ring the Bell ceremony, LATAM Chairman Ignacio Cueto reflected on the airline’s next chapter. “Today, we are starting a new chapter in LATAM’s history. A chapter in which we aspire to lead, innovate, and grow in ways that positively impact our customers, the communities we serve, and the markets we compete in.”
CEO Roberto Alvo echoed these sentiments, emphasizing that LATAM’s return to the NYSE comes at a time of strong performance across the board. “This year has been marked by solid results in various areas, allowing us to update our financial projections in a very positive way for 2024.”
Looking ahead, LATAM has also committed to enhancing its customer experience. Plans for 2025 include completing Wi-Fi installation across its narrow-body fleet, opening new lounges in Lima and Sao Paulo, and renovating its Miami lounge.
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