LATAM continues to perform well in its financial results, maintaining the positive trend of recent months after its successful exit from Chapter 11 last year. At the end of the first quarter, LATAM had net income of US$ 121,8 million. In addition, it reached a liquidity of US$ 2,5 billion, higher than that ed in the previous quarter.
In the period, total operating revenue reached US$ 2,8 billion, 43,2% higher than in 2022. Adjusted operating costs were US$ 2,51 billion, which resulted in an adjusted operating margin of 10,5 .XNUMX% in the quarter.
The CFO of LATAM Airlines Group, Ramiro Alfonsín, states that “after a 2022 in which the group completed its financial restructuring, LATAM continues to grow. The first quarter result is a solid reflection of the more efficient cost structure after the initiatives implemented during the reorganization process, accompanied by a healthy context of demand. In this way, LATAM generated US$199 million in cash in the first quarter and had a positive net result of US$122 million”.
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Consolidated operations grew 26,3% in the first quarter of the year compared to the same period in 2022. Domestic flights from Brazil increased by 21,4% compared to 2022. Domestic flights from s in Colombia, Chile, Peru and Ecuador decreased 2,3%, while international operations increased by 26,3% compared to 2022 levels.
It is important to highlight that during 2023 the LATAM Airlines Group will resume the Santiago – Melbourne route and the in Brazil will reestablish the São Paulo – Johannesburg route.
In addition, LATAM expects to receive 15 Airbuses of the A320neo family this quarter and 6 Boeing 787s during the second half of the year, all already financed.
Compliance with sustainability goals continues to advance. In the first quarter of the year, the LATAM group achieved an 88% reduction in single-use plastics and is committed to its 100% reduction target by the end of this year. Additionally, to promote the use of Sustainable Aviation Fuel (SAF), in March LATAM invested in the use of SAF in LATAM Cargo's international operations.
An important milestone in the period was the reincorporation of LATAM shares into the IPSA, the main index of the Santiago Stock Exchange. It is worth ing that LATAM shares had been removed from this index in May 2020, shortly after the group entered the Chapter 11 process.
Street: LATAM Brazil
