LATAM Airlines Group (LTM) Investor Day 2025 summary

Strategic vision, positioning, and future growth

• Focus on sustainable, profitable growth through an integrated value proposition, digitalization, and premium product expansion.

• Operates a fleet of over 370 aircraft, serving 165+ destinations and carrying 85+ million passengers annually, with a diversified revenue mix.

• Recognized as the most awarded airline group in South America, with a top-5 global punctuality ranking and the 8th largest loyalty program worldwide.

• Employee engagement is high, with 88% satisfaction and a significant increase in employee net promoter score since 2021.

• Plans to expand premium offerings, revamp fleet with new seats and amenities, and introduce Premium Comfort class in 2027.

Financial performance, guidance, and capital allocation

• 2025 revenue guidance at $14.5bn (+11% YoY), net income at $1.3bn (+37% YoY), and adjusted EBITDAR margin at 28.3%.

• 2026 guidance: 8-10% capacity growth, adjusted operating margin of 15-17%, and cash generation above $1.7 billion.

• Liquidity expected to exceed $5 billion in 2026, with net leverage at or below 1.4x and a minimum 30% dividend payout.

• CapEx plan of $1.7 billion annually for 2025-2026, focused on fleet, digital initiatives, and customer experience enhancements.

• Share price has more than doubled since NYSE relisting in July 2024, with a market cap of $14.8bn.

Growth strategy and network expansion

• Order book of 140 aircraft through 2030, including 24 Embraer jets for delivery 2026–2027, supporting network expansion and 35 new destination opportunities.

• Network leadership in four of the five largest South American airports, with strategic focus on premium slots and corporate travel.

• International expansion includes new routes to Europe, North America, and Africa, supported by joint ventures and bilateral agreements.

• Premium seat capacity to grow 7% annually over the next four years, with new aircraft enabling entry into secondary markets.

• Strategic focus on strengthening hubs in São Paulo, Santiago, and Lima, and expanding high-margin premium and loyalty revenues.