LATAM Airlines gains altitude on record annual results

LATAM Airlines

31/01/2025 15:28

** Shares in Latin America's largest airline, carrier LATAM
 LTM.SN , climb 2% around mid-day in Santiago after reporting
record annual results
    ** Net income in the fourth quarter more than tripled to
$272 million, from revenues which ticked up some 4%
    ** "LATAM continues to show best-in-class figures," analysts
at J.P. Morgan write
    ** The board will also consider a share buyback of up to
$150 million, "considering the current share ADR price may be
undervalued compared to historic multiples," CEO Roberto Alvo
tells analysts
    ** LATAM ADRs  LTM  tick up 1% in New York to $30.66 apiece
    ** LATAM sees healthy travel demand, with opportunity to
grow its JV with Delta  DAL.N  in Ecuador and Colombia though it
acknowledges recent "overcapacity" in Colombia's domestic market
    ** LATAM does not see significant evidence of new entrants
into the markets where it operates, according to execs,
appearing to shrug off reports that new open-skies agreements to
allow foreign airlines to operate domestically in countries such
as Brazil could come to fruition
    ** LATAM's Chilean shares have climbed 9% this week, rising
in anticipation of the results

 (Reporting by Kylie Madry; Editing by Sarah Morland)
 ((Kylie.Madry@thomsonreuters.com))