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LATAM Airlines Group (LTM) investor relations material
LATAM Airlines Group Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved record second-quarter results with net income of $242 million, up 66% year-over-year, and adjusted EBITDAR of $850 million, reflecting strong execution and favorable fuel environment.
Transported over 20.5 million passengers, with capacity up 8.3% year-over-year and consolidated load factor at 83.5%.
Returned $445 million to shareholders through dividends and share repurchases.
Recognized as the best airline in South America for the sixth consecutive year at the 2025 Skytrax World Airline Awards.
Expanded fleet with 12 new aircraft and continued investment in premium services and sustainability initiatives.
Financial highlights
Total revenues reached $3.28 billion, up 8.2% year-over-year; passenger revenues rose 8.5%, cargo revenues 10.2%.
Adjusted EBITDAR was $850 million (25.9% margin), a 37.4% increase year-over-year.
Adjusted operating margin reached a record 12.9% for Q2, up 3.9 percentage points from Q2 2024.
Net income margin improved to 7.4%, a 2.6 percentage point increase.
Adjusted CASK ex-fuel held at $0.048, and adjusted passenger CASK ex-fuel at $0.043.
Outlook and guidance
Updated 2025 guidance: revenue $14.0–$14.2 billion, adjusted operating margin 14–15%, adjusted EBITDAR margin 26–27%.
Adjusted leveraged free cash flow forecasted above $1.3 billion.
Total ASK growth expected at 8.5–9.5% for 2025.
Net debt/adjusted EBITDAR targeted at ≤1.5x.
Consolidated capacity growth in Brazil revised upward to 9.5%–10.5%.
Next LATAM Airlines Group earnings date
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