Latam Airlines Reports Second Quarter Profit Despite Surge in Fuel Costs

Latam Airlines ended the second quarter with a net profit of approximately US$ 125 million. While the company saw revenues rise by 28 percent to US$ 4.2 billion, it faced significant pressure from aviation fuel costs, which increased by 93.1 percent compared to the same period in 2025. Fuel costs totaled US$ 1.7 billion, a trend attributed to conflict in the Middle East.

The company transported 21.1 million passengers during the quarter. Consolidated capacity grew by 8.9 percent, with international growth at 11.8 percent and domestic growth ranging from 5.3 to 5.7 percent across its markets in Brazil, Chile, Colombia, Ecuador, and Peru. The load factor remained at 81.8 percent. CFO Ricardo Bottas stated that these results demonstrate the structural solidity of the group and its ability to operate in a volatile environment.

Financial reporting of these results varied by perspective. A center leaning source framed the report as a success, highlighting the profit achieved despite the rise in fuel costs. In contrast, a center right leaning source framed the report as a decline in earnings, noting that the quarterly profit was 48.2 percent lower than the same period in 2025.

Looking forward, Latam updated its 2026 projections. The airline expects capacity growth between 9 and 10 percent and an adjusted EBITDA between US$ 4.1 billion and US$ 4.4 billion. For the first half of the year, the company reported total gains of US$ 701.2 million, representing a 17.5 percent increase over the first six months of 2025.