INSUBCONTINENT EXCLUSIVE:
LATAM Airlines Group has raised $1.4 billion through a bond offering, showcasing its remarkable recovery
The Chilean-based airline priced its 2030 bonds at a 7.875% yield on October 1, 2024.This rate fell below the initial 8% guidance,
Morgan, and Deutsche Bank led the underwriting efforts
LATAM plans to use the funds to refinance existing debts, including $450 million in senior secured bonds due in 2027.This financial strategy
for the first half of 2024, surpassing the previous year by $140.1 million
The second quarter of 2024 proved particularly successful for LATAM, with a net profit of $146 million.LATAM Airlines Soars: $1.4 Billion
Bond Offering Marks Post-Bankruptcy Triumph
(Photo Internet reproduction)Total operating revenues reached $3.03 billion, while adjusted EBITDAR grew to $619 million
recovery has been fueled by robust demand across South America, especially during the high season
Looking ahead, LATAM projects a 12-14% growth in passenger operations for 2024.This growth is measured in available seat kilometers
The company expects EBITDAR to range between $2.6 billion and $2.9 billion for the year.In Brazil, a crucial market for the airline, LATAM
forecasts 7-9% growth in 2024
to overcome financial challenges and emerge stronger has captured the attention of investors and industry observers alike.In short, as LATAM
continues to expand its operations, it remains a key player in the Latin American aviation market.
