LATAM widens lead in Brazil's airline market in 2023

LATAM Airlines, opens new tab widened its advantage last year as the market leader among companies flying domestically and internationally in Brazil, data from Brazilian regulator Anac showed on Monday. Chile-based LATAM has been leading the domestic segment in Latin America's largest economy since 2021, when it overtook local rival Gol. LATAM closed 2023 with a domestic market share of 37.8% as defined by revenue passenger kilometers, which measures traffic. That was followed by Gol with 33.3% and Brazilian firm Azul with 28.4%, according to data from Anac, which regulates the airline sector in the country. LATAM's lead over Gol rose to a 4.45 percentage points in 2023, up from 2.76 percentage points the previous year. Late in 2022, LATAM came out of pandemic-related bankruptcy proceedings with an $8b reorganization plan. Gol and Azul also have struggled financially in recent years, with the latter concluding a broader restructuring in 2023.<br/>