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TRANSACTIONS WITH RELATED PARTIES | 12 Months Ended
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Dec. 31, 2023
Disclosure of transactions between related parties [abstract] |
TRANSACTIONS WITH RELATED PARTIES | TRANSACTIONS WITH RELATED PARTIES (a)Details of transactions with related parties as follows:
Tax No. |  | Related party |  | Nature of relationship with related parties |  | Country of origin |  | Nature of related parties transactions |  | Currency |  | For the year ended At December 31,
|  |  |  |  |  | 2023 |  | 2022 |  | 2021
|  |  |  |  |  |  |  |  |  |  |  | ThUS$ |  | ThUS$ |  | ThUS$
96.810.370-9 |  | Inversiones Costa Verde Ltda. y CPA. |  | Related director |  | Chile |  | Tickets sales |  | CLP |  | 124 |  |  | 87 |  |  | 28 |
81.062.300-4 |  | Costa Verde Aeronautica S.A. |  | Common shareholder |  | Chile |  | Loans received (*) |  | US$ |  | — |  |  | (231,714) |  |  | (100,013) |
|  |  |  |  |  |  |  | Interest received (*) |  | US$ |  | — |  |  | (21,329) |  |  | (5,700) |
|  |  |  |  |  |  |  | Capital contribution |  | US$ |  | — |  |  | 170,962 |  |  | — |
87.752.000-5 |  | Granja Marina Tornagaleones S.A. |  | Common shareholder |  | Chile |  | Services provided |  | CLP |  | — |  |  | 36 |  |  | 13 |
96.989.370-3 |  | Rio Dulce S.A. (**) |  | Related director |  | Chile |  | Tickets sales |  | CLP |  | — |  |  | 2 |  |  | 5 |
Foreign |  | Patagonia Seafarms INC |  | Related director |  | U.S.A |  | Services provided of cargo transport |  | US$ |  | — |  |  | — |  |  | 40 |
Foreign |  | Inversora Aeronáutica Argentina S.A. |  | Related director |  | Argentina |  | Real estate leases received |  | ARS |  | (59) |  |  | (63) |  |  | — |
|  |  |  |  |  |  |  | Expense recovery |  | ARS |  | 3 |  |  | — |  |  | — |
Foreign |  | TAM Aviação Executiva e Taxi Aéreo S.A. |  | Common shareholder |  | Brazil |  | Services provided of passenger transport |  | BRL |  | — |  |  | 4 |  |  | 13 |
Foreign |  | Qatar Airways |  | Indirect shareholder |  | Qatar |  | Interlineal received service |  | US$ |  | (22,107) |  |  | (23,110) |  |  | (4,736) |
|  |  |  |  |  |  |  | Services provided by aircraft lease |  | US$ |  | — |  |  | — |  |  | 22,215 |
|  |  |  |  |  |  |  | Interlineal provided service |  | US$ |  | 31,020 |  |  | 37,855 |  |  | 3,141 |
|  |  |  |  |  |  |  | Services received of handling |  | US$ |  | (252) |  |  | — |  |  | — |
|  |  |  |  |  |  |  | Services provided of handling |  | US$ |  | — |  |  | 692 |  |  | 1,246 |
|  |  |  |  |  |  |  | Services received miles |  | US$ |  | (4,657) |  |  | (4,974) |  |  | — |
|  |  |  |  |  |  |  | Services provided miles |  | US$ |  | 1,683 |  |  | 894 |  |  | — |
|  |  |  |  |  |  |  | Compensation for early return of aircraft |  | US$ |  | — |  |  | — |  |  | 9,240 |
|  |  |  |  |  |  |  | Services provided / received others |  | US$ |  | 1,424 |  |  | (1,238) |  |  | 1,160 |
Foreign |  | Delta Air Lines, Inc. |  | Shareholder |  | U.S.A |  | Interlineal received service |  | US$ |  | (144,239) |  |  | (111,706) |  |  | (4,160) |
|  |  |  |  |  |  |  | Interlineal provided service |  | US$ |  | 127,145 |  |  | 102,580 |  |  | 4,357 |
|  |  |  |  |  |  |  | Loans received (*) |  | US$ |  | — |  |  | (233,026) |  |  | — |
|  |  |  |  |  |  |  | Interest received (*) |  | US$ |  | — |  |  | (10,374) |  |  | — |
|  |  |  |  |  |  |  | Capital contribution |  | US$ |  | — |  |  | 163,979 |  |  | — |
|  |  |  |  |  |  |  | Services provided of handling |  | US$ |  | (3,657) |  |  | (4,340) |  |  | — |
|  |  |  |  |  |  |  | Services received miles |  | US$ |  | (11,069) |  |  | (3,992) |  |  | — |
|  |  |  |  |  |  |  | Services provided miles |  | US$ |  | 7,328 |  |  | 2,410 |  |  | — |
|  |  |  |  |  |  |  | Engine sale |  | US$ |  | — |  |  | 19,405 |  |  | — |
|  |  |  |  |  |  |  | Services provided maintenance |  | US$ |  | — |  |  | — |  |  | 3,310 |
|  |  |  |  |  |  |  | Joint venture |  | US$ |  | (10,000) |  |  | — |  |  | — |
|  |  |  |  |  |  |  | Real estates leases provided |  | US$ |  | 86 |  |  | — |  |  | — |
|  |  |  |  |  |  |  | Services provided / received others |  | US$ |  | 982 |  |  | (311) |  |  | 30 |
Foreign |  | QA Investments Ltd |  | Common shareholder |  | U.K. |  | Loans received (*) |  | US$ |  | — |  |  | (240,440) |  |  | (125,016) |
|  |  |  |  |  |  |  | Interest received (*) |  | US$ |  | — |  |  | (26,153) |  |  | (7,125) |
|  |  |  |  |  |  |  | Capital contribution |  | US$ |  | — |  |  | 163,979 |  |  | — |
Foreign |  | QA Investments 2 Ltd |  | Common shareholder |  | U.K. |  | Loans received (*) |  | US$ |  | — |  |  | (7,414) |  |  | (125,016) |
|  |  |  |  |  |  |  | Interest received (*) |  | US$ |  | — |  |  | (15,780) |  |  | (7,125) |
Foreign |  | Lozuy S.A. |  | Common shareholder |  | Uruguay |  | Loans received (*) |  | US$ |  | — |  |  | (57,928) |  |  | (25,003) |
|  |  |  |  |  |  |  | Interest received (*) |  | US$ |  | — |  |  | (5,332) |  |  | (1,425) |
(*) Operations corresponding to DIP loans tranche C. The balances corresponding to Accounts receivable and accounts payable to related entities are disclosed in Note 9. Transactions between related parties have been carried out under market conditions and duly informed. (**) Related companies until November 2022 (b)Compensation of key management The Company has defined for these purposes that key management personnel are the executives who define the Company’s policies and macro guidelines and who directly affect the results of the business, considering the levels of Vice-Presidents, Chief Executives and Senior Directors.
| For the year ended at December 31,
| 2023 |  | 2022 |  | 2021
| ThUS$ |  | ThUS$ |  | ThUS$
Remuneration | 12,815 |  |  | 10,651 |  |  | 9,981 |
Board compensation | 1,429 |  |  | 1,109 |  |  | 1,016 |
Non-monetary benefits | 606 |  |  | 565 |  |  | 501 |
Short-term benefits | 13,604 |  |  | 11,814 |  |  | 16,639 |
Termination benefits (*) | 59 |  |  | 1,157 |  |  | 513 |
Total | 28,513 |  |  | 25,296 |  |  | 28,650 |
In accordance with current legislation, the Ordinary Shareholders’ Meeting held on April 20, 2023, determined the amount of the annual remuneration for the Board for the period from that date until the next Ordinary Shareholders’ Meeting scheduled to take place within the first quarter of 2024. In this context, in addition to the base remuneration, an additional remuneration was approved for each Board member, with an incremental amount based on the following criteria: (a)During the first year following their appointment, until November 15, 2023, provided that the Director serves continuously in their position, each Director will be entitled to receive an additional amount to the base remuneration, equivalent to 9,226,234 units of remuneration or “URAs.” (b)For the second year following their appointment, covering the period from the end of the first anniversary since their designation until November 15, 2024, under the same condition mentioned previously and approved by the Ordinary Shareholders’ Meeting in the first quarter of 2024, each Director will be entitled to receive another additional amount equivalent to 9,226,234 URAs. (c)Likewise, each Director who becomes part of the Board Committee will also receive, as additional compensation, a variable amount equivalent to an additional one-third (1/3) calculated on the incremental remuneration that the respective Committee member is entitled to as a Director, in accordance with the resolution of the Ordinary Shareholders’ Meeting. For payment purposes, the value of each URA will be considered as referentially equivalent to the price of a company’s share. Consequently, URAs will be paid at the weighted average price of stock market transactions of the company’s shares during the 10 business days preceding the effective date (“Weighted Average Price”). For the calculation of the Weighted Average Price, transactions on national stock exchanges, as well as those on foreign exchanges recognized at the national level where LATAM’s American Depositary Shares may eventually be listed again, will be taken into account. The amounts paid during the 2023 fiscal year for this concept, in accordance with the above, are:
| Paid during the year |
| 2023 |  |  |  |
| ThUS$ |  |  |  |
URAs Directors | 481 |  |  |  |  |
URAs Board Committee | 53 |  |  |  |  |
Total | 534 |  |  |  |  |

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