LATAM Airlines Group SA Investor Day Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Michael Linenberg - Deutsche Bank - Analyst : Mike Linenberg, Deutsche Bank. Just I guess two questions here. Ramiro, you had that slide up that showed your unencumbered assets of $1.2 billion. Obviously, it's just the aircraft piece. I feel like it doesn't really do justice to your entire organization and the breadth and depth. We have companies out there that have been monetizing their loyalty programs. We have a company out there that's looking to monetize its cargo business. Your businesses are far bigger than that. Have you done run by run on what you think the net asset value truly is at the company? Are we talking something north of $10 billion given your slots gates infrastructure, your MRO business. I mean what's that blue sky number, just to give us a sense of maybe the overall value? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. OCTOBER 22, 2024 / 2:00PM, LTM.SN - LATAM Airlines Group SA Investor Day

Question: Michael Linenberg - Deutsche Bank - Analyst : And then just building off of that when we think about your ubiquity across the continent, across the region, you're in the business of carrying cargo and carrying passengers from point A to B or on to C. And yet when we think about brands and we think about your presence on the Internet in the region, I feel like there's just so much more there. I mean you look at some of the other carriers out there like a delta best practice is really pushing that brand. But again, they're in a much more competitive and contested US market in your part of the world, I mean, you had it on one of your slides, you carry one of almost every two passengers in the region. And so I think you had hinted the MRO business right now it's a gem in the LATAM Empire, and yet it's only your own maintenance business, maybe an opportunity to a third party. Can you talk about maybe some of the -- your ability to diversify your revenue streams, whether it's opening up maintenance to doing more third party? Because I feel like the infrastructure is there, the platforms there in a part of the world where I think for most other carriers, the resources are constrained. It seems like you have that unique opportunity.

Question: Michael Linenberg - Deutsche Bank - Analyst : Michael Linenberg, Deutsche Bank, again. Just on the fleet and as you think about the opportunities going forward. Your smallest shell right now is the A319. And I think as Latin America markets mature, they fragment. And so on one hand, is there an interest or maybe studies underway about looking at smaller gauge airplanes. There's a lot of smaller markets that I think ultimately will fit nicely in your network. And then on the other hand, when I look at your fleet plan going forward, each year you're just getting a couple of 787s and sometimes it takes 2 787s just do one daily round trip long-haul flight. Is there a desire to look in the A321 neo family, maybe at the LR or XLR since I'm sure you have those substitution rights. So fleet question, both on small, short haul and medium to longer haul.