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TRANSACTIONS WITH RELATED PARTIES
 12 Months Ended
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 partyNature of relationship with related partiesCountry
of origin		Nature of related parties transactionsCurrencyFor the year ended At December 31,
202320222021
ThUS$ ThUS$ ThUS$
96.810.370-9Inversiones Costa Verde Ltda. y CPA.Related directorChileTickets salesCLP124 87 28 
81.062.300-4Costa Verde Aeronautica S.A.Common shareholderChileLoans received (*)US$— (231,714)(100,013)
Interest received (*)US$— (21,329)(5,700)
Capital contributionUS$— 170,962 — 
87.752.000-5Granja Marina Tornagaleones S.A.Common shareholderChileServices providedCLP— 36 13 
         
96.989.370-3Rio Dulce S.A. (**)Related directorChileTickets salesCLP— 2 5 
ForeignPatagonia Seafarms INCRelated directorU.S.AServices provided of cargo transportUS$— — 40 
ForeignInversora Aeronáutica Argentina S.A.Related directorArgentinaReal estate leases receivedARS(59)(63)— 
    Expense recoveryARS3 — — 
ForeignTAM Aviação Executiva e Taxi Aéreo S.A.Common shareholderBrazilServices provided of passenger transportBRL— 4 13 
ForeignQatar AirwaysIndirect shareholderQatarInterlineal received serviceUS$(22,107)(23,110)(4,736)
    Services provided by aircraft leaseUS$— — 22,215 
    Interlineal provided serviceUS$31,020 37,855 3,141 
Services received of handlingUS$(252)— — 
    Services provided of handlingUS$— 692 1,246 
    Services received milesUS$(4,657)(4,974)— 
Services provided milesUS$1,683 894 — 
    Compensation for early return of aircraftUS$— — 9,240 
    Services provided / received othersUS$1,424 (1,238)1,160 
ForeignDelta Air Lines, Inc.ShareholderU.S.AInterlineal received serviceUS$(144,239)(111,706)(4,160)
    Interlineal provided serviceUS$127,145 102,580 4,357 
    Loans received (*)US$— (233,026)— 
    Interest received (*)US$— (10,374)— 
    Capital contributionUS$— 163,979 — 
    Services provided of handlingUS$(3,657)(4,340)— 
Services received milesUS$(11,069)(3,992)— 
Services provided milesUS$7,328 2,410 — 
    Engine saleUS$— 19,405 — 
    Services provided maintenanceUS$— — 3,310 
Joint ventureUS$(10,000)— — 
Real estates leases providedUS$86 — — 
    Services provided / received othersUS$982 (311)30 
ForeignQA Investments LtdCommon shareholderU.K.Loans received (*)US$— (240,440)(125,016)
    Interest received (*)US$— (26,153)(7,125)
    Capital contributionUS$— 163,979 — 
ForeignQA Investments 2 LtdCommon shareholderU.K.Loans received (*)US$— (7,414)(125,016)
    Interest received (*)US$— (15,780)(7,125)
ForeignLozuy S.A.Common shareholderUruguayLoans 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,
202320222021
ThUS$ThUS$ThUS$
Remuneration12,815 10,651 9,981 
Board compensation1,429 1,109 1,016 
Non-monetary benefits606 565 501 
Short-term benefits13,604 11,814 16,639 
Termination benefits (*)59 1,157 513 
Total28,513 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 Directors481 
URAs Board Committee53 
Total534