LATAM expects passenger traffic to increase by up to 14%
The LATAM Group has released its guidance for 2024, revealing operational and financial projections, where it anticipates a growth in passenger operations of between 12% and 14% for the upcoming year (measured in available seat-kilometers or ASK).
During the first quarter of 2024, it aims to surpass the ASK levels of 2019. For the domestic passenger market of LATAM Brasil, the forecast indicates a growth of 7% to 9%.
Ramiro Alfonsín, CFO of LATAM Airlines Group, commented on these projections, stating that «LATAM Group’s outlook for the next year reflects the operational and financial performance and competitiveness of the group.»
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On the cargo side, LATAM Cargo’s subsidiaries anticipate a growth of between 10% and 12% in their operations (measured in available tonne-kilometers or ATK). Currently, LATAM Cargo’s cargo subsidiaries operate a total of 19 cargo planes, solidifying their position as the largest cargo group in Latin America. The fleet growth plan, announced back in 2021, involved converting eight passenger airplanes into cargo aircraft. This strategic move has resulted in over a 70% increase in cargo capacity compared to pre-pandemic levels.
Finally, in financial terms, the group projects a record Earnings Before Interest, Taxes, Depreciation, Amortization, and Rent (EBITDAR) for 2024. The total is expected to range between US$2.6 billion and US$2.9 billion.
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