LATAM soars on Q1 results, upped outlook

LATAM Airlines

03/05/2024 16:01

** Shares in Chilean carrier LATAM airlines gain altitude in
morning trading a day after posting an earnings beat for the
first quarter
    ** LATAM had "a strong start of the year," write analysts at
J.P. Morgan, also causing the airline to boost its full-year
outlook
    ** LATAM closes the quarter with 336 aircraft, having added
a Boeing 787-9 and two Airbus A321neos
    ** The carrier is "extremely confident" it will receive
scheduled Airbus deliveries on time over the next few years, CFO
Ramiro Alfonsin says
    ** Executives say LATAM could refinance $1.4 billion of
non-fleet debt at par in Q4 and repay five-year notes at 110
    ** The process of relisting ADRs in New York is "progressing
well," Alfonsin says without giving more detail
    ** "All eyes on ADR reopening and re-listing," write
analysts at BTG Pactual
    ** "We believe valuation continues to offer room for a
re-rating, especially if the re-listing process is concluded,"
they add
    ** Shares climb 6.5% to 13.20 Chilean pesos apiece on the
Santiago exchange in morning trading

 (Reporting by Kylie Madry; Additional reporting by Fabian
Cambero and Gabriel Araujo; Editing by Brendan O'Boyle)
 ((Kylie.Madry@thomsonreuters.com))