Latam records $5 billion in revenue during 2021

The airline Latam, the largest in Latin America, reported on Wednesday a total revenue equivalent to 5,000 million dollars during 2021, 51% less compared to the pre-pandemic period in 2019 but with a positive last quarter for the first time since the beginning of the health emergency.
“We hope that the operation will continue to recover to reach the magnitudes we knew in 2019, but we cannot lose sight of the fact that we are in an uncertain context not only because of the effects of the new variants of covid-19, but now also because of the tension of a war conflict that has the world on alert and that impacts on the price of oil,” said the CEO of the multinational group, Roberto Alvo.
As reported by the company, operations reached 63.5% of sustained levels in 2019, an increase in capacity of 29.6% compared to the third quarter of 2021 driven mainly by the reactivation of domestic traffic and the relaxation of restrictive measures in several countries.
“As in previous quarters of 2021, the operations of Latam’s freight subsidiaries continued to show strong performance, with revenues increasing 66% compared to the same period in 2019 to $464 million. So far, the slow recovery of international flights has made it impossible to return to pre-pandemic levels,” the company said.
The multinational to date is awaiting the approval of its Disclosure Statement by a court in the United States. In addition, he set the goal of exiting Chapter 11 of the Bankruptcy Law of that country by the second half of this year, closing the restructuring that he promoted in recent months.
Before the health crisis, the airline operated about 1,400 daily flights to 145 destinations in 26 countries and had a fleet of 332 aircraft, but until June 2020 it operated only 5% of its lines, maintaining only 39 domestic routes in Brazil, 13 in Chile and four international routes.
With the pandemic, the company, born in 2012 from the merger between Lan and Brazil’s Tam, reduced its operation by up to 95% and ended 2020 with a fall in its operating income of 58.4%.

Original source in Spanish