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Latam Airlines upgrades earnings outlook at investor event
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Latam Airlines upgrades earnings outlook at investor event
Oct 22, 2024 12:42 PM

Oct 22 (Reuters) - Latam Airlines upgraded its

guidance for 2024 earnings and passenger growth on Tuesday as

the company celebrated its return to listing on the New York

Stock Exchange during an event with investors.

The Santiago-based carrier revised its outlook for 2024

EBITDAR, or earnings before interest, taxes, depreciation and

amortization and rent costs, to between $3 billion and $3.15

billion, above its prior guidance from May of between $2.75

billion and $3.05 billion.

The airline, which held an investors day in New York on

Tuesday, returned to trading American Depositary Receipts (ADRs)

on the New York Stock Exchange in July after delisting in 2020

as the pandemic wreaked financial havoc on airlines around the

world.

After declaring bankruptcy that year, the company

completed a years-long restructuring process in November 2022.

"We are very proud because we are returning to the main

stock market in the world at a great time," CEO Roberto Alvo

said in a statement shared by the company.

"This has been a year marked by solid results in different

areas, which has allowed us to update the financial projections

very positively for 2024," said Alvo.

Latam, South America's largest airline group, also said it

expects passenger growth of between 15% and 16% in 2024 compared

to last year.

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