LATAM Airlines Group celebrated 20 years since it began trading shares on the New York Stock Exchange.
The company’s Chairman of the Board Ignacio Cueto led proceedings by ringing the NYSE’s closing bell to mark the end of the day’s trading yesterday.
He said: “We see that the region is recovering and in parallel, our cost savings and the implementation of our new sales model are paying off.
“We will continue to strengthen our network – this year alone we have launched 13 new routes and in 2018 will inaugurate a further 21 – to improve Latin America’s connectivity, both within the region and with the rest of the world.”
Cueto said much had been achieved by the airline in the two decades it has been on he stock exchange.
“20 years ago we dreamed of being the leading airline in Latin America and today we have achieved it.
“We went from being a Chile-based carrier with a fleet of around 40 aircraft in 1997 to being a regional operator with a fleet of more than 300 aircraft, domestic operations in six countries and three international hubs that connect Latin America with the world.”
Cueto added: “During the last three years we have gone through the deepest transformation in our history and we are now seeing positive results.
“We have been able to reduce our fleet commitments considerably, we have made significant cost reductions and have adjusted the structure of the organization.”
At the closing bell, Cueto was joined by LATAM’s former President of the Board, Mauricio Amaro; Emilio Rodríguez Larraín, President of the Board for LATAM Airlines Peru; Ramiro Alfonsín, CFO of LATAM and Investor Relations Manager, María José Ortiz.
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