Revenue amounted to US$2,525 million decreasing 7.5%, impacted by currency devaluation in the region, weak international demand in Argentina and international overcapacity
Cost per ASK improved 6.9% YoY, while cost per ASK excluding fuel improved 8.7% YoY.
Operating income amounted to US$82 million and operating margin of 3.3%
Intention to participate in the restructuring plan for Avianca Brazil proposed by Elliot Management Corporation
Acquisition of the minority interest of Multiplus completed for US$304 million
LATAM's shareholders approved a dividend distribution of US$54.6 million paid on May 16, 2019
2
First Quarter 2019 Financial Summary
(US$ Millions)1Q191Q18Change
Total Operating Revenues
2,525
2,731
-7.5%
Passenger
2,168
2,318
-6.5%
Cargo
263
296
-10.9%
Others
94
117
-19.6%
Total Operating Costs
-2,443
-2,462
-0.7%
Fuel
-747
-718
4.0%
Ex-Fuel
-1,697
-1,744
-2.6%
Operating Income
82
270
-69.6%
Operating Margin
3.3%
9.9%
-6.6 p.p.
Net Income
-60
92
n.a.
EBITDA
434
619
-30.0%
EBITDA Margin
17.2%
22.7%
5.5 p.p.
3
First Quarter 2019 Operating Statistics
% YoY
System Capacity
Capacity
Traffic
Load Factor
RASK/RATK (USc)
1
(ASK)
(RPK)
(% YoY)
International
+8.1%
+5.5%
85.1%
5.6
(Long Haul & Regional)
57%
(-2.2 p.p.)
(-15.2%)
BRL
1Q19: +7.3%
Domestic Brazil
SSC Domestic
25%
18%
+1.5%
+1.3%
82.1%
6.22
(-0.2 p.p.)
(-7.2%)
+9.6%
+10.3%
84.2%
6.5
(0.5 p.p.)
(-10.4%)
Passenger
+6.7%
+5.2%
84.2%
5.7
(-1.1 p.p.)
(-12.3%)
Cargo
-0.4%
+1.9%
56.0%
16.4
(1.3 p.p.)
(-10.6%)
1
RASK by business unit includes ticket revenue, breakage, frequent flyer program contribution and ancillary revenues.
4
2
Excluding proportional margin contribution from Multiplus
Cost per ASK excluding fuel decreased by 8.7% YoY
Passenger ASK (millions)
Number of Passengers (millions)
+6.7%
+5.1%
37.989
18.174
35.619
17.286
1Q18
1Q19
1Q18
1Q19
Number of employees per
operating aircraft
-7 FTE/aircraft
138
131
1Q18
1Q19 (1)
Total Costs US$MM
1Q19
1Q18
Change
Fuel Cost
747
718
+4.0%
Wages & Benefits
476
515
-7.5%
Fleet Cost
456
448
+1.8%
Others
765
780
-2.8%
Operating Costs
2,443
2,462
-0.7%
CASK(US cents)
6.4
6.9
-6.9%
CASK ex-fuel (US cents)
4.5
4.9
-8.7%
1 Excluding 2 Boeing 777 leased to Boeing
5
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
Original document
Permalink
Disclaimer
LATAM Airlines Group SA published this content on 17 May 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 17 May 2019 20:07:03 UTC
LATAM Airlines Group SA is a Chile-based company, which is engaged in passenger and cargo air transportation, both in the domestic markets of Chile, Peru, Argentina, Colombia, Ecuador and Brazil and in a developed series of regional and international routes in America, Europe and Oceania. These businesses are performed directly or through its subsidiaries in different countries. It operates through two segments: the Air transportation business and the Coalition and loyalty program Multiplus. It Air transportation segment corresponds to the route network for air transport. Its segment of Coalition and loyalty program called Multiplus is a frequent flyer programs, which operate as a unilateral system of loyalty that offers a flexible coalition system. The Company operates a fleet of over 329 aircrafts. Its passenger aircrafts include Airbus A319-100, Airbus A350-900, Boeing 767-300ER, Boeing 787-8, Boeing 787-9 and Boeing 777-300ER.
LATAM AIRLINES GROUP S.A. 
