MEXICO CITY (Reuters) – LATAM Airlines projected on Thursday record earnings for next year of between $2.6 billion and $2.9 billion.
The metric, measured in adjusted earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs (EBITDAR), would top the maximum expected for this year of $2.5 billion.
The airline also expects passenger growth of between 12% and 14% next year, topping 2019’s growth rate within the first quarter.
Passenger growth, as measured in the metric of available seat kilometers, is also expected to increase between 7% and 9% in the Brazil domestic market, the carrier added.
The group’s cargo subsidiaries expect growth of between 10% to 12% in their operations, as measured in available ton kilometers, next year.
LATAM also estimates it will close 2024 with net leverage of between 1.8x and 2.0x, “which represents an approximate 50% reduction from its leverage level following its successful exit from the Chapter 11 restructuring process,” the carrier said in a statement.
(Reporting by Kylie Madry; Editing by Anthony Esposito and Sarah Morland)