‍SANTIAGO — LATAM Airlines Group (LA) finished 2025 with net income of US$1.5 billion, up 49.4% year over year, and carried 87.4 million passengers, reinforcing its scale as the largest airline group in the Southern Hemisphere.

The group’s operating revenues rose 11.2% to US$14.5 billion, while adjusted operating margin climbed to a record 16.2% on US$2.4 billion in adjusted operating income.

Momentum accelerated into year-end: Q4 revenues reached US$3.9 billion, driven by 20.3% growth in passenger revenues (including premium-segment expansion and improved unit revenues), while Q4 net income attributable to shareholders jumped 78.1% to US$484 million.

• Liquidity: US$3.7B; adjusted net leverage: 1.5x
• Cash generation: >US$1.4B in 2025; share buybacks: US$585M
• Dividends: US$400M interim (Dec.) + US$293M statutory

Capacity, Loyalty Results

Operationally, LATAM increased capacity 8.2% and averaged 239,000+ passengers per day; its cargo affiliates transported over 1 million tons, maintaining regional leadership.

LATAM reported a record Organizational Health Index of 83 and an all-time high NPS of 54, alongside product upgrades, including its Lima lounge and Premium Business updates.

LATAM Pass ended 2025 with 54 million members, up from 4 million during the year.

LATAM’s record margin and sharp Q4 step-up show the group is pairing stronger pricing (especially premium demand) with disciplined cost and balance-sheet management—while the buybacks and dividends signal confidence that cash generation is becoming more durable, not just cyclical.