From Investing.com: 2024-05-02 20:10:44

Chilean carrier LATAM Airlines raises its earnings forecast for the year to $12.8 billion to $13.1 billion, up from $12.4 billion to $12.8 billion. Adjusted EBITDAR estimated at $2.75 billion to $3.0 billion, a 10% to 22% increase from 2023. Executives credit boosted operations, cost containment, and improved capital structure. Quarterly results show $796 million in EBITDAR, with net profit doubling to $258 million.

Passenger traffic grows 17.5% in the first quarter, surpassing pre-pandemic levels. LATAM moves record number of passengers and increases flight occupancy. Passenger costs remain steady at 4.3 cents per ASK, generating $137 million in cash. CFO Alfonsin highlights liquidity for competitiveness and growth.

LATAM Airlines waiting on aircraft deliveries this year. Rejects Boeing B737s, considering Airbus A320 or A321 aircraft. Focus on deleveraging after quarter-end net debt to EBITDAR ratio at 1.9 times. Potential debt refinancing under consideration later this year.



Read more at Investing.com: LATAM Airlines boosts yearly earnings outlook after solid Q1 results By Reuters