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LATAM Airlines Reports US$441 Million Q3 2026 Net Profit, Raises Full-Year Guidance

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LATAM Airlines Group posted a net income of US$441 million for the third quarter of 2026, representing a 16.3% increase compared to the same period last year. This financial performance was driven by robust demand across both passenger and cargo segments, which helped offset a 52.1% surge in jet fuel prices.

Operational Strength and Financial Performance

During the third quarter of 2026, the group’s total operating revenues reached US$4.567 billion, marking an 18.4% growth compared to Q3 2025.

Adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization (Adjusted EBITDA) stood at US$1.095 billion. Meanwhile, adjusted operating income reached US$573 million, translating into an adjusted operating margin of 12.5% (compared to 18.1% recorded in the same period of 2025).

The period was marked by a significantly higher fuel cost environment. Average jet fuel prices jumped 52.1% year-over-year, generating an estimated adverse financial impact of approximately US$520 million.

Despite this headwind, the group expanded its consolidated capacity by 7.7% compared to Q3 2025 while maintaining a healthy passenger load factor of 83.7%.

“The third-quarter results once again demonstrate the strength of LATAM’s business model and its ability to sustain solid performance, even amid persistent volatility in jet fuel prices. Our route network, differentiated value proposition, and financial position remain fundamental pillars in earning customer preference and delivering results,” stated Ricardo Bottas, Chief Financial Officer of LATAM Airlines Group.

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Business Unit Breakdown

The group’s diversified commercial model posted gains across all operating revenue streams:

Balance Sheet Structure and Investment Grade

The group closed the quarter with total liquidity of US$4.446 billion, equivalent to 26.4% of its trailing twelve months (TTM) revenues, and an adjusted net leverage ratio of 1.5x.

Regarding solvency and credit profile, S&P Global Ratings and Fitch Ratings upgraded LATAM’s corporate credit rating from BB to BB+ with a Stable outlook. As a direct result of these upgrades, two of the group’s secured debt instruments achieved a BBB- rating, regaining investment-grade status.

Fleet Management and Network Modernization

At the close of September 2026, LATAM’s consolidated fleet totaled 390 aircraft. During the quarter, seven factory-fresh aircraft were inducted:

Additionally, in October, subsidiary LATAM Airlines Brasil took delivery of its first two Embraer E195-E2 aircraft, marking the introduction of a new aircraft type into the group’s operations. This delivery initiates an induction phase for 14 scheduled aircraft, with commercial scheduled flights slated to begin on November 30, serving 42 routes across the Brazilian domestic market.

International Accolades and 2026 Outlook

On the corporate front, LATAM Airlines Group was named the 2027 Airline of the Year by Air Transport World (ATW), becoming the first Latin American carrier to receive this honor. This distinction was complemented by eight awards at the Skytrax World Airline Awards, including Best Airline in South America (for the seventh consecutive year) and Best Airline Staff in South America (for the fifth consecutive year).

Supported by this operational performance, the group revised its full-year 2026 financial guidance upward:

The group will formally present its detailed strategic roadmap and operational milestones to institutional analysts and investors during its scheduled Investor Day on December 14 in New York.

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