LATAM reduces international flights by approximately 30% due to lower demand and travel restrictions
Santiago, Chile - March 12, 2020. LATAM Airlines Group and its subsidiaries announced today a reduction in international flights of approximately 30% due to lower demand and government travel restrictions in reaction to the spread of COVID-19 (Coronavirus), which has been declared a pandemic by the World Health Organization (WHO). For the time being, the measure will apply principally to flights from South America to Europe and the US between April 1 and May 30, 2020.
"Faced with this complex and extraordinarily dynamic scenario, LATAM is taking immediate and responsible measures to safeguard the group's long-term sustainability, while seeking to secure passengers’ travel plans and protect the jobs of the group’s 43,000 coworkers. At the same time, we will maintain the flexibility to take additional measures, if necessary, due to the speed at which events are unfolding,” said Roberto Alvo, Chief Commercial Officer and CEO-elect of LATAM Airlines Group. The executive added that, given the current context, the company has decided to suspend its guidance for 2020.
LATAM will continue to uphold its strict safety and hygiene protocols to protect the well-being of its passengers, crew and ground personnel. The group has also implemented special cleaning procedures for its aircraft, which have state-of-the-art circulation systems with HEPA filters that renew the air inside the cabin every three minutes.
Other measures include the suspension of new investments, expenses and hiring as well as incentives for unpaid leave and to bring forward vacations.
To date, demand in LATAM’s domestic markets has not been affected and the group has decided not to implement changes to national flight itineraries for the time being.
"We will continue to monitor the progress of the COVID-19 coronavirus, promoting the sanitary measures recommended by respective authorities and providing passengers with flexibility and the best connectivity to reach their destinations," said Alvo.
About LATAM Airlines Group S.A
LATAM Airlines Group is Latin America’s leading airline group with one of the largest route networks in the world, offering services to 145 destinations in 26 countries, including six domestic markets in Latin America – Argentina, Brazil, Chile, Colombia, Ecuador and Peru – in addition to international operations in Latin America, Europe, the United States, the Caribbean, Oceania, Africa and Asia.
The airline group employs over 42,000 people worldwide, operating approximately 1,400 flights per day and transporting over 74 million passengers per year.
LATAM Airlines Group has 332 aircraft in its fleet, which features the latest and most modern models including the Boeing 787, Airbus A350, A321 and A320neo.
LATAM Airlines Group is the only airline group in the Americas and one of three worldwide to be part of the Dow Jones Sustainability ‘World’ Index. In 2019, it was recognized by the index for sustainable practices, based on economic, social and environmental criteria, for the sixth consecutive year.
LATAM Airlines Group shares are traded on the Santiago Stock Exchange and the New York Stock Exchange in the form of ADRs.