LATAM carried 16.8 million passengers, an increase of 1.4 million compared to the second quarter of 2018
Passenger revenues increased 3.2% in second quarter driven by a 7.1% traffic growth (RPK). Domestic Brazil's RASK offset international RASK decline
Cost per ASK improved 3.5% YoY, while cost per ASK excluding fuel improved 5.2% YoY.
Merger between Multiplus and LATAM Airlines Brazil completed in May
Supreme Court in Chile ruled against the Joint Business Agreements with American Airlines and IAG (British and Iberia)
Fitch Ratings upgraded the Company's corporate credit rating from B+ to BB-
2
Second Quarter 2019 Financial Summary
(US$ Millions)
2Q19
2Q18
Change
1H19
1H18
Change
Total Operating Revenues
2,370
2,357
0.5%
4,895
5,088
-3.8%
Passenger
2,020
1,957
3.2%
4,188
4,275
-2.0%
Cargo
269
300
-10.2%
533
596
-10.5%
Others
81
101
-19.9%
175
218
-19.7%
Total Operating Costs
-2,330
-2,305
1.1%
-4,773
-4,765
0.2%
Fuel
-721
-686
5.2%
-1,468
-1,403
4.6%
Ex-fuel
-1,608
-1,619
-0.7%
-3,305
-3,361
-1.7%
Operating Income
40
53
-23.7%
122
323
-62.1%
Operating Margin
1.7%
2.2%
-0.5 p.p.
2.5%
6.4%
-3.9 p.p.
Net Income
-63
-208
-69.8%
-123
-116
6.3%
EBITDA
392
390
0.5%
826
1,009
-18.2%
EBITDA Margin
16.5%
16.5%
0.0 p.p.
16.9%
19.8%
-2,9 p.p.
3
Second Quarter 2019 Operating Statistics
% YoY
System Capacity
Capacity
Traffic
Load Factor
RASK/RATK (USc)
1
(ASK)
(RPK)
(% YoY)
International
+3.3%
+6.0%
86.1%
5.4
(Long Haul & Regional)
57%
(+2.1 p.p.)
(-12.1%)
BRL
2Q19: +29.5%
Domestic Brazil
SSC Domestic
26%
17%
+1.3%
+4.8%
79.9%
6.7
(+2.7 p.p.)
(+18.7%)
+16.4%
+15.2%
79.5%
6.5
(-0.8 p.p.)
(-7.3%)
Passenger
+4.8%
+7.1%
83.3%
5.8
(+1.8 p.p.)
(-1.5%)
Cargo2
-1.6%
+0.8%
55.8%
17.7
(+1.3 p.p.)
(-2.2%)
1
RASK by business unit includes ticket revenue, breakage, frequent flyer program contribution and ancillary revenues.
4
2
Excluding the sale of MasAir
Revenues by point of sale last twelve months evolution
Second quarter 2018
Second quarter 2019
Peru
Colombia
Ecuador
Peru
Colombia
Ecuador
4%
2%
4%
2%
6%
8%
Europe
Europe
8%
Brazil
7%
33%
Brazil
APAC and other
APAC and other
38%
Latin America
Latin America
9%
9%
Argentina
12%
Chile
Argentina
USA
USA
6%
Chile
16%
10%
10%
16%
+1.4%
Passenger + Cargo revenues = US$2,256 million
Passenger + Cargo revenues = US$2,289 million
Source: Financial statements 2Q19
5
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LATAM Airlines Group SA published this content on 14 August 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 August 2019 14:31:03 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. 
