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.