Latam Airlines upgrades annual profit forecast

South American carrier Latam Airlines has upgraded its annual profit forecast on the back of capacity growth of up to 16% this year.

Expected adjusted earnings [ebitda] of between $3 billion and $3.15 billion are higher than previous guidance in May.

Latam expects “high single-digit” capacity growth next year. 

The largest airline group in South America operates 341 aircraft and has ordered more then 120 more for delivery through to 2030.

The Delta Air Lines joint venture partner, which carries more than 220,000 passengers a day, returned to the New York Stock Exchange on Tuesday, having exited in 2020 due to the pandemic and financial restructuring. 

Latam Airlines first listed on the New York Stock Exchange in 1997 as Lan Chile.

Chief executive Roberto Alvo said: “We are very proud to return to the world’s leading stock market at such an opportune time. 

“This year has been marked by strong results across various areas, allowing us to significantly update our financial projections for 2024.” 

The airline, which serves 164 destinations across 31 countries, plans to finalise the installation of Wi-Fi on its narrow-body aircraft by 2025.