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LATAM AIRLINES GROUP S.A.

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Built from LATAM AIRLINES GROUP S.A.'s own SEC filings · updates as new filings land · sources cited throughout

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← Research LibraryThe BriefFY2025 20-F · headline figures audited against SEC data

Three years after leaving Chapter 11, LATAM grew revenue 11.2% to $14.27B, widened operating margin 436 bps to 16.37% on cheaper fuel, and returned more than $1 billion through dividends and buybacks

The read at a glance✓ Audited against SEC data
  • Growth — Revenue up 11.2% to $14.27B; passenger revenue up 12.3%, cargo up 3.4%OK
  • Profitability — Operating margin up 436 bps to 16.37%; net income up 49.4% to $1.46BOK
  • Balance sheet — Equity rebuilt to $1.35B, up 86.0%, but thin for an airline of this sizeWatch
  • Accounting quality — Distress-zone balance-sheet screen; no manipulation flag; earnings quality safeWatch
  • Capital allocation — US$605.2 million of dividends paid and US$584.8 million of buybacks; capex up 34.0%Note
  • Ownership — No controlling holder: Sixth Street 13.22%, Delta 10.57%, Qatar Airways 10.56%Note

Business

LATAM Airlines Group is the leading airline group in South America by capacity, formed when Chile's LAN merged with Brazil's TAM in 2012. It flies domestic routes in Brazil, Chile, Peru, Colombia and Ecuador plus regional and long-haul services, carried approximately 87 million passengers in 2025 with a fleet of 371 aircraft, and runs the region's largest cargo operation and the LATAM Pass loyalty program. It reports in U.S. dollars. Passenger revenue was 88.4% of 2025 revenue and cargo 11.6%.

Latest filings

  • 6-K · Company announcement (foreign filer)2026-11-09
  • 6-K · Company announcement (foreign filer)2026-11-03
  • 6-K · Company announcement (foreign filer)2026-11-03
  • 6-K · Company announcement (foreign filer)2026-10-08
  • 6-K · Company announcement (foreign filer)2026-09-08
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Every figure comes from the company's filings, and analysis whose figures don't match SEC data is rejected before publication.

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