LATAM Airlines has executed a share repurchase plan for 3.4% of its issued shares

LATAM Airlines Group S.A. has launched a share buy-back program aimed at repurchasing up to 2.4% of its outstanding shares. The program was approved at an extraordinary shareholders’ meeting, which delegated to the board of directors the authority to set the repurchase price. One day prior to the closing of the order book, LATAM increased the repurchase price and subsequently raised the maximum percentage of shares to be repurchased from 2.4% to 3.4% of the outstanding shares. At the close of the process, demand significantly exceeded supply, reaching approximately 303% of the targeted volume and resulting in a pro-rata allocation factor of around 33% for participating shareholders. The transaction was considered highly successful, as LATAM repurchased the full targeted amount within the established timeline, minimized market exposure and reinforced confidence in its long-term strategy.

LATAM Airlines is the leading airline group in Latin America, with domestic operations in five key markets: Brazil, Chile, Colombia, Ecuador and Peru. The company also offers international flights from Latin America to Europe, Oceania, Africa, the USA and the Caribbean.

Oaklins’ team in Chile advised LATAM Airlines in the execution of the share buy-back program, raising US$440 million. As exclusive financial advisor, the team defined and developed the strategy for the tender offer, coordinating a multidisciplinary team across corporate finance, wealth management and trading. Responsibilities included structuring and coordinating the process, conducting shareholder outreach and drafting key documents. During execution, the team received and processed sale orders, structured the purchase mechanisms and managed payments to selling shareholders, ensuring a smooth and transparent process.