Latam Airlines Group Sa · BCS:LTM
Latam Airlines Group Sa — Q3 2025 Earnings Presentation
14 slides from Latam Airlines Group Sa's earnings presentation, Nov 17, 2025
Slide 1: Results Presentation Third quarter 2025
Results Presentation Third quarter 2025 November 17, 2025
Slide 2: Disclaimer
Disclaimer Neither the United States Securities and Exchange Commission (“SEC”) nor the Chilean Comisión para el Mercado Financiero (the “CMF”) nor any securities commission of any other U.S. or non-U.S. jurisdiction has reviewed, approved or disapproved of this Presentation, or determined that this
Slide 3: LATAM group continues growing profitably alongside key milestones and major deal
LATAM group continues growing profitably alongside key milestones and major deal Operational and financial performance • Transported over 22.9 million passengers hand in hand with 9.3% capacity growth (ASK) YoY. Consolidated load factor reached 85.4%, +0.5pp vs 3Q-24. • Passenger unit revenue increa
Slide 4: Embraer E195-E2 order to boost connectivity in South America
Recently announced a plan to boost connectivity in South America with the Embraer E195-E2 LATAM's total order book of almost 150 aircraft Acquisition of up to 74 Embraer narrow body aircraft: 2025 7 18 To be delivered 4Q-25 24 firm orders to be received between 4Q 2026 and 2027. 2026 41 3 44 50 purc
Slide 5: Focused execution and customer preference drive PRASK increase
Focused execution and customer preference drive PRASK increase ASK (billion) Load Factor (%) Passengers (million) PRASK (US$ cent) 40.7 44.5 84.9% 85.4% 22.9 21.1 7.0 7.6 Consolidated +9.3% +0,5pp +8.3% +8.4% 3Q-24 3Q-25 3Q-24 3Q-25 3Q-24 3Q-25 3Q-24 3Q-25 13.8 83.9% 86.1% 10.4 12.2 9.0 7.3 8.4 +14.
Slide 6: Advancing initiatives aimed at enhanced service across key passenger touchpoints
Advancing initiatives aimed at enhanced service across key passenger touchpoints Inaugurated New Lima Introducing Premium APEX Five-Star Global Lounge Comfort Class Airline 2026 Recognized for the fourth consecutive year as a Five-Star Global Airline Air Cargo Airline of the Year 2025 Launched the n
Slide 7: LATAM expanded adj. operating margin to 18.1%
LATAM expanded adj. operating margin to 18.1%, as the group continued to perform well with a stable macroeconomic backdrop Adj. EBITDAR Adj. operating income Net income US$1,150 + 38.9% US$698 + 51.6% US$379 + 25.8% million vs 3Q 2024 million vs 3Q 2024 million vs 3Q 2024 Income Statement (US$ milli
Slide 8: Consistently improving adj. operating margin while containing costs
Consistently improving adj. operating margin while containing costs Adj. Operating Margin 18.1% 15.5% 12.7% 11.3% 7.1% 2019 2023 2024 LTM 3Q25 3Q25 Adj. Passenger CASK ex-fuel (US$ cents) 4.2 4.3 4.2 4.3 4.4 2019 2023 2024 LTM 3Q25 3Q 2025 Adjusted figures exclude other gains and losses, expenses re
Slide 9: Positive net cash generation of US$380 million in the quarter
Positive net cash generation of US$380 million in the quarter before second share repurchase execution Adj. Cash Flow 3Q 2025 (US$ million) 859 2,449 (382) (52) (44) 2,069 +380 2,016 (433) (53) Initial Cash Adj. Operating CapEx Net of Financial Interest Adj. Financial Cash Before Share Ending Cash 3
Slide 10: LATAM maintains balance sheet metrics aligned with financial policy target ranges
LATAM maintains balance sheet metrics aligned with financial policy target ranges Liquidity (US$ million) Adjusted Net Leverage (times) Liquidity Cash and equivalents RCF Financial Financial 2.1x 27.1% Policy Range Policy Target 25.8% 25% <2.0x 23.9% 21% 3,533 3,591 1.7x 2,814 1,958 2,016 1.5x 1,714
Slide 11: LATAM group updates its guidance for the full year 2025
LATAM group updates its guidance for the full year 2025 2025E Updated 2025E Indicator Guidance (July28th) (November 14th) Operating Indicators Total ASK Growth vs 2024 8.5% - 9.5% 8.0 % - 8.5% Domestic Brazil ASK Growth vs 2024 9.5% - 10.5% 10.0 % - 10.5% Domestic Spanish Speaking Countries ASK Grow
Slide 12: Third quarter 2025 takeaways
Third quarter 2025 takeaways 1. Strong operational performance: Sustained operational results supported by strong customer preference, on top of a healthy demand environment that resulted in increasing unit revenues across all segments. 2. Investments to enhance the LATAM experience: Announcement of
Slide 13: Investor Day December 9, 2025
INVESTOR DAY December 9, 2025
Slide 14: Results Presentation Third quarter 2025
Results Presentation Third quarter 2025 November 17, 2025