- The Latin America Report
LATAM Airlines reports surge in domestic flights
LATAM Airlines reports a gradual recovery of the operation in the second quarter, reaching a consolidated capacity of 72.6% compared to 2019 levels, which in turn represents more than double the capacity of the same quarter of 2021, growing by 135.2%. This recovery of capacity is mainly attributed to the domestic markets in Brazil, Colombia and Ecuador, in addition to the recovery of international operations, and takes place in a context marked by a sharp increase in fuel prices.
Roberto Alvo, CEO of LATAM Airlines Group, commented that “we have closed a second quarter with significant progress in our reorganization process under Chapter 11 and we hope to emerge from it during the last quarter of this year. Although the group has made advances in its operational recovery, we continue to remain cautiously optimistic about the coming months, closely monitoring fuel prices and macroeconomic variables, as the industry still finds itself in the midst of a very dynamic environment.”
Regarding international traffic, LATAM estimates that the recovery will be slower, reaching 2019 levels by mid-2023. It is worth noting that international traffic accounted for approximately 45% of 2019 revenues.