Summary In Q2, LATAM Airlines praised its customer-centric business strategy that led to its strong quarterly results. The airline group ended the period with a net profit of $104.8 million, which was adjusted down from $145 million.
LATAM Airlines once again celebrated being relisted on the New York Stock Exchange (NYSE), which happened after the quarter had ended. LATAM Airlines, the airline group comprised of many carriers in South America, has continued to grow its capacity year-on-year (YoY), resulting in growing revenues, yet its three-month profit has gone down due to cost growth outpacing revenue growth and various adjustments. Growth despite significant operational disruptions LATAM Airlines cited its customer-centric business strategy as the key that allowed the airline to unlock the door to strong operational and financial results quarter after quarter, with Q2 2024 being no exception.
During the quarter, the group, which has subsidiaries in Brazil, Colombia, Chile, Ecuador, and Peru, transported 19.1 million passengers, an increase of 11.7% YoY.
According to LATAM Airlines, the group managed to grow despite LATAM Airlines Brazil facing a significant impact from floods in the state of Rio Grande do Sul, Brazil, which included the complete shutdown of Salgado Filho International Airport (POA) in May. Speaking about the first half of the year, the group cited growth in all of its business segments and, in particular, in LATAM Airlines’ international network, which .