LATAM announces $2 billion investment in Brazil over next two years
LATAM Group and the President of Brazil, Luiz Inácio Lula da Silva, met this Monday in Santiago de Chile. During the meeting, LATAM Airlines Brazil signed a protocol of intentions with the Ministry of Labor and Employment (MTE) of the South American giant to train and employ labor, mainly at the company’s facilities in San Carlos, the largest aircraft maintenance center in South America, with the potential to become a true Brazilian aerospace hub. The group also announced that it will invest US$2 billion in Brazil over the next two years, focusing on products, technologies and services for passengers, as well as on aeronautical maintenance activities.
The agreement signed in Santiago contemplates a joint technical work plan between LATAM Airlines Brazil and the Ministry of Labor and Employment to explore opportunities for training and employment of skilled labor in Brazil in the coming months. LATAM currently employs 19,000 people in Brazil, of which 1,800 belong to the San Carlos Maintenance Base (MRO), where professionals from various specialties work: mechanics, engineering, chemistry, clothing and technicians.
Currently, the San Carlos Base is the largest aircraft maintenance and repair center in South America. It is responsible for the maintenance of 60% of the LATAM group’s fleet. With 23 years of activity, it is a center of innovation, workforce training, service exports and a benchmark in the Brazilian aerospace industry.
At the close of the meeting in Chile, LATAM presented President Lula with a turbine blade (compressor vane) from a Boeing 767 engine of the airline that for more than 20 years has flown the skies of South America and the world, connecting their peoples and cultures.
LATAM and Brazil
LATAM Group is a multinational and the largest airline group in Latin America, with flights to 148 destinations in 26 countries. With domestic operations in five Latin American countries, it leads three of these markets in the region: Brazil, Chile and Peru.
In the case of Brazil, LATAM Airlines offers the most flights and seats to the domestic market, currently operating the largest air route network in its history in the country, with flights to 53 Brazilian airports. In the international operation, it is the one that most connects Brazil with the world, with its own flights to 90 airports abroad.
In 2024, LATAM Airlines added 1 million domestic seats in Brazil and surpassed the 150 aircraft mark in its fleet in the country. In total, the group forecasts growth of 8% to 10% in its domestic ASK (available seat kilometers) in Brazil by 2024 compared to 2023.
LATAM and Brazil-Chile market
Connectivity between Brazil and Chile is highly strategic. LATAM currently serves this market the most, with 8 routes between Santiago and Brazilian cities and more than 100 weekly frequencies. In practice, the group transports annually between the two countries the equivalent of 10% of the Chilean population.
In the second quarter of 2024 alone, the group increased the volume of flights between the two countries by 30% compared to the first quarter of the year. LATAM is currently responsible for 70% of passengers flying between Brazil and Chile.
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Plataforma Informativa de Aviación Comercial líder en América Latina.