LATAM Airlines Group closes 2025 with net income of US$1.5 billion and more than 87 million passengers transported
In 2025, LATAM achieved total operating revenues of US$14.5 billion, an 11.2% increase year over year. Adjusted operating income reached US$2.4 billion, with an adjusted operating margin of 16.2%, 3.5 percentage points higher than in 2024, reflecting the structural strength of the group’s business model. Adjusted EBITDAR totaled US$4.1 billion, with a 28.2% margin, representing a 4.4 percentage point year-over-year expansion.
During the fourth quarter of 2025, operating revenues reached US$3.9 billion, driven mainly by 20.3% growth in passenger revenues, amid expansion in the premium segment and improvements in unit revenues. In the same period, net income attributable to shareholders totaled US$484 million, a 78.1% increase compared to the fourth quarter of 2024.
In terms of capital structure, LATAM closed the year with a liquidity position of US$3.7 billion, equivalent to 25.7% of revenues over the last twelve months, and an adjusted net leverage ratio of 1.5x. Strong cash generation during 2025—exceeding US$1.4 billion—enabled the group to allocate US$585 million to share buybacks. Separately LATAM distributed a US$400 million interim dividend in December, in addition to US$293 million in statutory dividends paid in the second quarter, all while maintaining balance sheet strength.
“We closed 2025 satisfied with the progress made in the consolidation of LATAM. 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 Roberto Alvo, CEO of LATAM Airlines Group.
Operations and customers
During 2025, the LATAM group transported an average of more than 239,000 passengers per day and increased its capacity by 8.2% compared to the previous year. In the cargo business, the group’s affiliates transported more than 1 million tons throughout the year, consolidating LATAM Cargo Group as the largest air cargo operator group in the region. This leadership was also recognized internationally with the global Cargo Airline of the Year award.
The focus on people and customer experience continued to be a central pillar of the group’s strategy. In 2025, the Organizational Health Index reached a record 83 points, placing the LATAM group, for the first time, in the top decile of the global benchmark. This commitment was also reflected in the passenger experience, with an NPS (Net Promoter Score) of 54 points, the highest in the group’s history.
Throughout the year, the LATAM group made progress in enhancing its value proposition, highlighted by the opening of the Lounge in Lima, the update of the Premium Business experience, and advancements in onboard connectivity and cabin redesign. These efforts were complemented by international recognitions such as Skytrax’s “Best Airline in South America” award for the sixth consecutive year and the APEX “Five-Star Global Airline” distinction for the fourth year in a row.
Finally, customer preference continued to strengthen, supported by LATAM Pass, which maintained its leadership as the largest loyalty program in the region, reaching 54 million members after adding 4 million new members in 2025.
In terms of sustainability, in 2025 the group continued to strengthen its strategy and was recognized as the fifth best-performing airline worldwide in sustainability, according to S&P Global.
ABOUT LATAM GROUP
LATAM Airlines Group S.A. and its affiliates are the principal group of airlines in Latin America present in five domestic markets in the region: Brazil, Chile, Colombia, Ecuador and Peru, in addition to international operations within Latin America and to / from Europe, the United States, Oceania, Africa and the Caribbean. The group has a fleet of Boeing 767, 777, 787, Airbus A321, A321Neo, A320, A320Neo, and A319 aircraft. Additionally, the Airbus 330, operated under short-term leases, is also part of the current operations.
LATAM Cargo Chile, LATAM Cargo Colombia and LATAM Cargo Brazil are the LATAM group cargo subsidiaries. In addition to having access to the bellies of the passenger affiliate’s aircraft, they have a fleet of 20 freighters. They operate on the LATAM group network as well as international routes that are solely used for freighters. They offer modern infrastructure, a wide variety of services and protection options to meet all customer needs.
More financial information at ir.latam.com / latam.com
Natalia Ceripieri
Hopscotch System Americas
+1 7182008991
nceripieri@hopscotch.one
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