LATAM Airlines Group, the largest airline group in South America, raised $456 million by offering 19 million ADSs (100% secondary) at $24, below the as-converted last close of its shares on the Santiago Stock Exchange ($26.90).
LATAM Airlines is the largest airline group in South America, with over twice the number of flights of any other airline group in the region, and one of the 10 largest airline groups in the world by the number of flights operated in the twelve months ended March 31, 2024. It is also the largest air cargo group carrier in South America by cargo fleet. As of March 31, 2024, the LATAM group provided passenger transport services to 148 destinations in 26 countries and cargo services to 166 destinations in 33 countries, with an operating fleet of 336 aircraft, including 20 dedicated cargo freighters. In 2022, the company completed a reorganization process under Chapter 11.
LATAM Airlines Group plans to list on the NYSE under the symbol LTM. Goldman Sachs, Barclays, J.P. Morgan, Citi, Santander, Deutsche Bank, BNP Paribas, MUFG, Natixis, and Larrain Vial acted as joint bookrunners on the deal.
