Latam extends lead in Brazil amid Gol crisis
Chile-based airline Latam broadened its lead in Brazil last year, according to data from the National Civil Aviation Agency (Anac). The company has led the domestic aviation segment in Latin America’s largest economy since 2021, when it overtook local rival Gol, which is now in financial trouble.
By the numbers. In 2023, 112.6 million passengers traveled by plane within, to, and from Brazil, up 15.3 percent from the previous year and the best result since 2020, when the Covid pandemic began, mainly due to the resumption of international travel and a greater supply (30 percent more than in 2022) of such flights.
- However, air traffic is still far from its 2019 peak, when more than 118 million passengers traveled.
- Latam’s domestic market share, defined in terms of revenue passenger kilometers, reached 37.8 percent, while Gol’s fell to 33.3 percent. Latam also leads the international market with an 18.2 percent share.
State of play. Latam emerged from its pandemic-related bankruptcy proceedings in late 2022, reducing its debt by approximately USD 3.6 billion (a 35 percent reduction from pre-filing levels), while Azul completed a broader restructuring in 2023. Gol is also struggling financially and has just filed for Chapter 11 bankruptcy protection in the U.S.
Why it matters. With 87 percent of...
Search
