LATAM Airlines Group
This article's factual accuracy may be compromised due to out-of-date information. (December 2021)
OTC Pink: LTMAQ
|Founded||June 22, 2012|
|Ignacio Cueto (Chairman) |
Roberto Alvo (CEO)
|Revenue||$9.895 billion (2018)|
|$758 million (2018)|
|$213 million (2018)|
|Total assets||$17.566 billion (2018)|
Number of employees
LATAM Airlines Group S.A. is an airline holding company headquartered in Santiago, Chile. It is considered the largest airline in Latin America with subsidiaries in Brazil, Colombia, Ecuador, Paraguay and Peru. The company filed for Chapter 11 bankruptcy in the United States on May 26, 2020, due to economic problems attributed to the impact of the COVID-19 pandemic on aviation. Although LATAM Airlines' headquarters are located in Chile, the carrier is an American depositary receipt and traded on both the Santiago Stock Exchange and New York Stock Exchange at the time of bankruptcy. The company's stock ticker (LTMAQ) was unlisted from the NYSE and later moved to the unregulated OTC Markets Pink on June 12, 2020.
Chile's LAN Chile and Brazil's TAM Linhas Aéreas signed a non-binding agreement to merge on 13 August 2010, followed by a binding agreement on 19 January 2011 and papers to close the merger on 22 June 2012, with TAM Linhas Aéreas’ shareholders agreeing to the takeover by LAN Airlines. Enrique Cueto, former CEO of LAN, became the CEO of LATAM; Mauricio Rolim Amaro, formerly vice-chairman of TAM, became LATAM chairman.
The agreement to establish LATAM was approved by Chilean authorities on 21 September 2011, with 11 restrictions. These included transferring four landing slots at São Paulo-Guarulhos International Airport to competitors interested in operating flights to Santiago de Chile's Comodoro Arturo Merino Benítez International Airport, renouncing membership to either the Oneworld or Star Alliance airline alliance, restricting the increase in capacity on flights between Brazil and Chile, and opening code-share possibilities and fidelity program membership to interested competitors. On 14 December 2011, Brazilian authorities approved the agreement, imposing similar restrictions as Chilean authorities: LATAM would have to choose an alliance by August 2012 and frequencies between São Paulo and Santiago de Chile would have to be reduced. At the time, TAM had two pairs of slots while LAN had four. LAN had to relinquish two pairs to competitors interested in using them. On 7 March 2013, LATAM announced its final decision to choose Oneworld as its global airline alliance. As a result, TAM left Star Alliance during the second quarter of 2014 to join Oneworld.
In August 2015, it was announced that all LATAM Airlines Group airlines would fully rebrand as LATAM, with one unified livery to be applied on all aircraft by 2018. The rebranding included all aspects of the business, such as staff uniforms and airport check in facilities. The first of the aircraft were repainted (or delivered new) in the new LATAM livery in April 2016.
2019–2020: Delta stake, Oneworld departure, and Enrique Cueto steps down
On 26 September 2019, Delta Air Lines announced its plans to buy 20% of LATAM for $1.9 billion, to expand Delta's access to the Latin American market. Additionally, Delta undertook to pay LATAM's exit fee from Oneworld and to take delivery of all Airbus A350 XWB aircraft that LATAM had on order. On 1 January 2020, it was reported that Delta Air Lines’ acquisition of the 20% stake in LATAM group was completed. Group CEO Enrique Cueto stepped down on 31 March 2020, and was succeeded by Roberto Alvo, the group’s then-current Chief Commercial Officer. On 31 January 2020, LATAM announced that it would leave Oneworld three months later on 1 May.
On 26 May 2020, LATAM filed for Chapter 11 bankruptcy in the United States due to economic problems attributed to the impact of the COVID-19 pandemic on aviation, although they are currently operating and have been negotiating terms. In August, the company announced its second-quarter results, projecting improved operational prospects. To assist with the COVID-19 pandemic in Peru, the company announced that its subsidiary LATAM Perú would help distribute vaccines to fifteen provinces in Peru for free.
The company's shareholders, as of March 2021, are:
|Delta Air Lines||20.0%|
As of 31 December 2017, LATAM Airlines Group is one of the largest airline groups in the world in terms of network connections, with its subsidiaries operating a combined fleet of 315 aircraft providing passenger transport services to 137 destinations in 24 countries; and 18 aircraft providing cargo services to 144 destinations in 29 countries.
LATAM's main hubs are Santiago de Chile's Comodoro Arturo Merino Benítez International Airport; Jorge Chávez International Airport in Lima; São Paulo–Guarulhos International Airport; and El Dorado International Airport in Bogotá. The company is exploring the creation of a new hub in northeastern Brazil with the objective of expanding operations between Europe and South America. Bogotá is the hub for the Caribbean.
LATAM Airlines Argentina has announced that it will cease domestic cargo operations for an indefinite period. 
Subsidiary airlines of LATAM Airlines Group
The airlines majority- and minority-owned by LATAM Airlines Group through the primary airlines' various subsidiaries are as follows:
|Argentina||LATAM Argentina (ceased operations in 2020)|
|LATAM Cargo Brasil|
|LATAM Cargo Chile|
|LATAM Cargo Colombia|
|Mexico||LATAM Cargo Mexico (owned by LATAM from 2015-2018)|
Operators and Fleet
|Airbus A319-100||41||LATAM Brasil|
|Airbus A320||142||LATAM Brasil|
|Airbus A321-200||49||LATAM Brasil|
|Boeing 767-300ER||14||LATAM Brasil|
|Boeing 767-300ERF/BCF||15||LATAM Cargo Brasil|
|LATAM Cargo Chile|
|LATAM Cargo Colombia|
|Boeing 777-300ER||10||LATAM Brasil|
|Boeing 787-8||10||LATAM Chile|
|Boeing 787-9||20||LATAM Brasil|
- "LATAM Airlines Group SA". Reuters. 17 August 2018.
- "Latam Airlines Group SA Corporate Information". Bloomberg. 27 October 2018.
- "LATAM - Board of Directors". latamairlinesgroup.net. Retrieved 15 May 2017.
- LATAM Airlines Group, Consolidated Financial Statements January 1, 2018 – December 31, 2018, retrieved 1 January 2020
- "Latam Airlines Group SA - Company Profile and News". www.bloomberg.com. Retrieved 26 May 2020.
- "Kantar BrandZ" (PDF).
- Webber, Jude; Lemer, Jeremy (15 August 2010). "LatAm airlines join consolidation trend". Financial Times. Retrieved 16 August 2010.
- Sobie, Brendan (13 August 2010). "LAN and TAM to merge". Flight International. Retrieved 14 August 2011.
- "Contact." LATAM Airlines Group. Retrieved on 25 January 2013. "Contact Pdte. Riesco 5711, 20th floor Las Condes Santiago, Chile "
- http://i.imgur.com/IvRaefc.jpg[bare URL image file]
- http://www.melhoresdestinos.com.br/wp-content/uploads/2015/08/logo_timeline_1024.jpg[bare URL image file]
- "LATAM becomes largest airline driven to bankruptcy by coronavirus". Reuters. 26 May 2020. Retrieved 26 May 2020.
- "TAM and LAN announce binding agreement". TAM Linhas Aéreas. 19 January 2011. Retrieved 14 August 2011.
- "LAN says signs non-binding deal with TAM to merge". Reuters. 13 August 2010. Retrieved 13 August 2010.
- "BBC News - Chile's Lan and Brazil's Tam merge to create huge airline". Bbc.co.uk. 1 January 1970. Retrieved 23 June 2012.
- "Enrique Cueto to be CEO of new LAN-TAM parent". Flight International. 13 August 2010. Retrieved 14 August 2011.
- "LAN and TAM aim to complete merger by mid 2011". Flight Global. 14 August 2010. Retrieved 14 August 2019.
- Seabra, Luciana (21 September 2011). "Tribunal chileno aprova fusão de TAM e LAN com 11 condições" (in Portuguese). Valor Econômico. Retrieved 26 September 2011.
- Rodrigues, Eduardo; Froufe, Célia (14 December 2011). "Com restrições, CADE aprova fusão TAM/Lan" (in Portuguese). O Estado de S. Paulo. Retrieved 15 December 2011.
- "LATAM - News Release". www.latamairlinesgroup.net. Retrieved 15 May 2017.
- "LAN and TAM to operate as LATAM with a new livery" retrieved 9 August 2015
- "LATAM's entire fleet to have new livery by 2018" retrieved 9 August 2015
- Mutzabaugh, Ben (7 August 2015). "So long, LAN and TAM; Airlines will soon fly under LATAM brand". USA Today Online. Retrieved 31 August 2015.
- Rucinski, Tracy (27 September 2019). "Delta to buy 20% of LATAM for $1.9 billion in regional shake-up". Reuters. Retrieved 26 May 2020 – via www.reuters.com.
- Sider, Alison (26 September 2019). "Delta Air Lines to Take 20% Stake in Latam Airlines for $1.9 Billion". Wall Street Journal. Retrieved 27 September 2019.
- "LATAM Intends To Leave The oneworld Alliance". Simple Flying. 27 September 2019. Retrieved 27 September 2019.
- "Delta Air Lines Completes LATAM Acquisition". Simple Flying. 1 January 2020. Retrieved 1 January 2020.
- "LATAM AIRLINES GROUP REPORTS A 21.8% IMPROVEMENT IN OPERATING INCOME AND A 10.1% OPERATING MARGIN FOR THE THIRD QUARTER 2019". Retrieved 9 December 2019.
- "Details | oneworld". www.oneworld.com. Retrieved 14 February 2020.
- Laing, Fabian Cambero, Aislinn (17 September 2020). "LATAM Airlines proposes new $2.45 billion financing deal to U.S. bankruptcy court". Reuters. Retrieved 21 November 2020.
- "LATAM trasladará de forma gratuita las vacunas COVID-19 en el Perú | ECONOMIA". Peru21 (in Spanish). 10 December 2020. Retrieved 10 December 2020.
- "Ownership Structure". LATAM Airlines Group SA. Retrieved 26 April 2021.
- "LATAM - Annual Reports". www.latamairlinesgroup.net. Archived from the original on 10 July 2017. Retrieved 15 January 2022.
- "LATAM Airlines Group has to undergo a delicate balance of short term pain for strategic gain". www.centreforaviation.com. Centre for Aviation. Retrieved 4 September 2015.
- Bohorquez Aya, Edwin (7 July 2015). "América Latina le habla duro a". El Espectador (Spanish). Retrieved 5 August 2015.
- "LATAM Airlines Argentina halts domestic cargo service". Global Cargo News. 18 June 2020. Retrieved 2 July 2020.