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FINANCIAL RISK MANAGEMENT (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure Of Financial Risk Management [Abstract]

Schedule of hedge information

The following tables show the level of hedge for different periods:

Positions as of December 31, 2023 (*)						Maturities
						Q124						Q224						Q324						Q424						Total
Percentage of coverage over the expected volume of consumption						35		%				32		%				30		%				22		%				30		%

Positions as of December 31, 2022 (*)						Maturities
						Q123						Q223						Q323						Q423						Total
Percentage of coverage over the expected volume of consumption						24		%				24		%				15		%				5		%				17		%

(*) The percentage shown in the table considers all the hedging instruments (swaps and options).

Hedge derivatives

			Current liabilities												Non-current liabilities												Total hedge derivatives
			As of December 31, 2023						As of December 31, 2022						As of December 31, 2023						As of December 31, 2022						As of December 31, 2023						As of December 31, 2022
			ThUS$						ThUS$						ThUS$						ThUS$						ThUS$						ThUS$
Fair value of foreign currency derivatives			1,544						—						—						—						1,544						—
Total hedge derivatives			1,544						—						—						—						1,544						—

Schedule of sensitivity analysis

The following table shows the sensitivity of financial instruments according to reasonable changes in the price of fuel and their effect on equity.

Benchmark price (US$ per barrel)

Positions as of December 31, 2023 effect on Equity (MUS$)

Positions as of December 31, 2022 effect on Equity (MUS$)

+5

+10.8

+2.2

-5

-10.7

-2.3

The following table shows the sensitivity of current hedging FX derivative instruments according to reasonable changes in the exchange rate and its effect on equity.

Appreciation (depreciation) of R$/US$

Effect on equity as of December 31, 2023 (MUS$)

Effect on equity as of December 31, 2022 (MUS$)

-10%

-10.0

-2.9

+10%

+19.0

+3.0

The following table shows the impact of the Exchange Rate variation on the Consolidated Income Statement when the R$/US$ exchange rate appreciates or depreciates by 10%:

Appreciation (depreciation) of R$/US$

Effect on Income Statement for the year ended December 31, 2023 (MUS$)

Effect on Income Statement for the year ended December 31, 2022 (MUS$)

-10%

+6.6

+70.7

+10%

-6.6

-70.7

The following table shows the impact on the Cumulative Translation Adjustment included in Other comprehensive income recognized in Total equity in the case of an appreciation or depreciation 10% the exchange rate R$/US$:

Appreciation (depreciation) of R$/US$

Effect at December 31, 2023 MUS$

Effect at December 31, 2022 MUS$

-10%

+327.01

+98.11

+10%

-267.56

-80.28

Sensitivity analysis:

The following table shows the sensitivity of changes in financial obligations that are not hedged against interest-rate variations. These changes are considered reasonably possible, based on current market conditions each date.

Increase (decrease) of future curve SOFR rate

Positions as of December 31, 2023 effect on Income (Loss) before taxes (MUS$)

Positions as of December 31, 2022 effect on Income (Loss) before tax (MUS$)

+100 basis points

-20.27

-22.64

-100 basis points

+20.27

+22.64

Increase (decrease) interest rate curve

Positions as of December 31, 2023 effect on equity (MUS$)

Positions as of December 31, 2022 effect on equity (MUS$)

+100 basis points

—

+6.9

-100 basis points

—

-8.2

Schedule of class of liability for the analysis of liquidity risk ordered by date of maturity

Class of liability for the analysis of liquidity risk ordered by date of maturity as of December 31, 2023

Debtor: LATAM Airlines Group S.A., Tax No. 89.862.200-2 Chile

Tax No.						Creditor						Creditor country						Currency						Up to 90 days						More than 90 days to one year						More than one to three years						More than three to five years						More than five years						Total						Nominal value						Amortization						Annual
																																																																								Effective rate						Nominal rate
																								ThUS$						ThUS$						ThUS$						ThUS$						ThUS$						ThUS$						ThUS$												%						%
Bank loans
0-E						GOLDMAN SACHS						U.S.A.						US$						44,721						127,878						302,953						1,192,355						—						1,667,907						1,089,000						Quarterly						20.31						15.04
Obligations with the public
97.036.000-K						SANTANDER						Chile						UF						—						3,230						6,409						6,409						182,647						198,695						160,214						To the expiration						2.00						2.00
0-E						WILMINGTON TRUST COMPANY						U.S.A.						US$						—						153,813						307,625						697,438						793,625						1,952,501						1,150,000						To the expiration						15.00						13.38
97.036.000-K						SANTANDER						Chile						US$						—						—						—						—						6						6						3						To the expiration						1.00						1.00
Guaranteed obligations
0-E						BNP PARIBAS						U.S.A.						US$						5,940						17,082						41,319						40,578						120,730						225,649						171,704						Quarterly						6.98						6.98
0-E						WILMINGTON TRUST COMPANY						U.S.A.						US$						5,948						16,928						42,098						40,736						54,056						159,766						132,585						Quarterly/Monthly						8.76						8.76
Other guaranteed obligation
0-E						EXIM BANK						U.S.A.						US$						452						1,348						43,531						43,494						16,665						105,490						99,109						Quarterly						2.29						2.05
0-E						MUFG						U.S.A.						US$						12,919						37,926						16,649						—						—						67,494						64,102						Quarterly						7.11						7.11
0-E						CREDIT AGRICOLE						France						US$						6,451						33,576						75,714						243,842						—						359,583						266,768						To the expiration						9.43						9.43
Financial lease
0-E						NATIXIS						France						US$						10,653						30,443						73,474						70,443						94,995						280,008						215,357						Quarterly						7.58						7.58
0-E						US BANK						U.S.A.						US$						17,984						50,411						17,681						—						—						86,076						84,177						Quarterly						4.41						3.16
0-E						EXIM BANK						U.S.A.						US$						3,262						9,389						216,015						148,582						75,118						452,366						413,072						Quarterly						4.13						3.31
0-E						BANK OF UTAH						U.S.A.						US$						5,891						17,705						47,590						54,357						117,597						243,140						172,582						Monthly						10.71						10.71
Others loans
0-E						OTHERS (*)						Chile						US$						104						—						—						—						—						104						104						To the expiration						—						—
						TOTAL																		114,325						499,729						1,191,058						2,538,234						1,455,439						5,798,785						4,018,777

(*)Obligation with creditors for executed letters of credit.

Class of liability for the analysis of liquidity risk ordered by date of maturity as of December 31, 2023

Debtor: TAM S.A., Tax No. 02.012.862/0001-60, Brazil.

Tax No.

Creditor

Creditor country

Currency

Up to 90 days

More than 90 days to one year

More than one to three years

More than three to five years

More than five years

Total

Nominal value

Amortization

Annual

Effective rate

Nominal rate

ThUS$

ThUS$

ThUS$

ThUS$

ThUS$

ThUS$

ThUS$

%

%

Financial leases

0-E

NATIXIS

France

US$

510

1,530

4,080

9,886

—

16,006

16,006

Quarterly

—

—

TOTAL

510

1,530

4,080

9,886

—

16,006

16,006

Class of liability for the analysis of liquidity risk ordered by date of maturity as of December 31, 2023

Debtor: LATAM Airlines Group S.A., Tax No. 89.862.200-2, Chile.

Tax No.						Creditor						Creditor country						Currency						Up to 90 days						More than 90 days to one year						More than one to three years						More than three to five years						More than five years						Total						Nominal value						Amortization						Annual
																																																																								Effective rate						Nominal rate
																								ThUS$						ThUS$						ThUS$						ThUS$						ThUS$						ThUS$						ThUS$												%						%
Lease Liability
						AIRCRAFT						OTHERS						US$						139,599						419,554						1,116,682						928,238						1,685,262						4,289,335						2,894,195						—						—						—
						OTHER ASSETS						OTHERS						US$						2,523						7,276						14,863						846						1,404						26,912						25,680						—						—						—
																		CLP						19						57						94						—						—						170						135						—						—						—
																		UF						557						1,255						2,906						2,426						5,099						12,243						11,097						—						—						—
																		COP						122						308						266						148						—						844						667						—						—						—
																		EUR						63						101						172						23						—						359						296						—						—						—
																		BRL						2,314						6,871						15,177						14,438						25,742						64,542						35,841						—						—						—
																		MXN						24						71						8						—						—						103						84						—						—						—
Trade and other accounts payables
-						OTHERS						OTHERS						US$						846,541						7,063						—						—						—						853,604						709,933						—						—						—
																		CLP						44,593						8,072						—						—						—						52,665						64,317						—						—						—
																		BRL						309,999						7,671						—						—						—						317,670						409,474						—						—						—
																		Other currency						178,740						5,522						—						—						—						184,262						118,189						—						—						—
Accounts payable to related parties currents
Foreign						Qatar Airways						Qatar						US$						—						2,312						—						—						—						2,312						2,312
Foreign						Delta Air Lines, Inc.						U.S.A						US$						—						5,132						—						—						—						5,132						5,132
						Total																		1,525,094						471,265						1,150,168						946,119						1,717,507						5,810,153						4,277,352
						Total consolidated																		1,639,929						972,524						2,345,306						3,494,239						3,172,946						11,624,944						8,312,135

Class of liability for the analysis of liquidity risk ordered by date of maturity as of December 31, 2022

Debtor: LATAM Airlines Group S.A., Tax No. 89.862.200-2 Chile.

Tax No.						Creditor						Creditor country						Currency						Up to 90 days						More than 90 days to one year						More than one to three years						More than three to five years						More than five years						Total						Nominal value						Amortization						Annual
																																																																								Effective rate						Nominal rate
																								ThUS$						ThUS$						ThUS$						ThUS$						ThUS$						ThUS$						ThUS$												%						%
Bank loans
97.023.000-9						GOLDMAN SACHS						U.S.A.						US$						32,071						122,278						323,125						1,361,595						—						1,839,069						1,100,000						Quarterly						18.46						13.38
0-E						SANTANDER						Spain						US$						19,164						55,288						—						—						—						74,452						70,951						Quarterly						7.26						7.26
Obligations with the public
97.030.000-7						SANTANDER						Chile						UF						—						3,136						6,271						6,271						178,736						194,414						156,783						At Expiration						2.00						2.00
0-E						WILMINGTON TRUST COMPANY						U.S.A.						US$						—						152,531						307,625						757,625						887,250						2,105,031						1,150,000						At Expiration						15.00						13.38
97.036.000-K						SANTANDER						Chile						US$						—						—						—						—						6						6						3						At Expiration						1.00						1.00
Guaranteed obligations
0-E						BNP PARIBAS						U.S.A.						US$						6,692						14,705						39,215						39,215						138,345						238,172						184,198						Quarterly						5.76						5.76
0-E						WILMINGTON TRUST COMPANY						U.S.A.						US$						3,839						13,465						45,564						43,444						75,505						181,817						141,605						Quarterly / Monthly						8.20						8.20
Other guaranteed obligation
0-E						EXIM BANK						U.S.A.						US$						394						1,171						12,119						21,111						60,857						95,652						86,612						Quarterly						2.01						1.78
0-E						MUFG						U.S.A.						US$						13,091						38,914						69,916						—						—						121,921						112,388						Quarterly						6.23						6.23
0-E						CREDIT AGRICOLE						France						US$						5,769						31,478						70,890						267,615						—						375,752						275,000						At Expiration						8.24						8.24
Financial lease
0-E						CITIBANK						U.S.A.						US$						6,995						5,844						-						—						—						12,839						12,514						Quarterly						6.19						5.47
0-E						BNP PARIBAS						U.S.A.						US$						6,978						20,662						1,543						—						—						29,183						28,165						Quarterly						5.99						5.39
0-E						NATIXIS						France						US$						9,864						29,468						75,525						70,787						129,582						315,226						239,138						Quarterly						6.44						6.44
0-E						US BANK						U.S.A.						US$						18,072						54,088						86,076						—						—						158,236						152,693						Quarterly						4.06						2.85
0-E						PK AIRFINANCE						U.S.A.						US$						1,749						5,165						6,665						—						—						13,579						12,590						Quarterly						5.97						5.97
0-E						EXIM BANK						U.S.A.						US$						3,176						9,681						137,930						193,551						157,978						502,316						446,509						Quarterly						3.58						2.79
0-E						BANK OF UTAH						U.S.A.						US$						5,878						17,651						47,306						50,649						145,184						266,668						182,237						Monthly						10.45						10.45
Others loans
0-E						OTHERS (*)						Chile						US$						2,028						—						—						—						—						2,028						2,028						At Expiration						—						—
						TOTAL																		135,760						575,525						1,229,770						2,811,863						1,773,443						6,526,361						4,353,414

(*)Obligation with creditors for executed letters of credit.

Class of liability for the analysis of liquidity risk ordered by date of maturity as of December 31, 2022

Debtor: TAM S.A., Tax No. 02.012.862/0001-60, Brazil.

Tax No.						Creditor						Creditor country						Currency						Up to 90 days						More than 90 days to one year						More than one to three years						More than three to five years						More than five years						Total						Nominal value						Amortization						Annual
																																																																								Effective rate						Nominal rate
																								ThUS$						ThUS$						ThUS$						ThUS$						ThUS$						ThUS$						ThUS$												%						%
Financial Leases
0-E						NATIXIS						France						US$						510						1,530						4,080						4,080						7,846						18,046						18,046						Semiannual/Quarterly						7.23						7.23
Bank loans
0-E						MERRILL LYNCH CREDIT PRODUCTS, LLC						Brazil						BRL						304,549						—						—						—						—						304,549						304,549						Monthly						3.95						3.95
						TOTAL																		305,059						1,530						4,080						4,080						7,846						322,595						322,595

Class of liability for the analysis of liquidity risk ordered by date of maturity as of December 31, 2022

Debtor: LATAM Airlines Group S.A., Tax No. 89.862.200-2, Chile.

Tax No.						Creditor						Creditor country						Currency						Up to 90 days						More than 90 days to one year						More than one to three years						More than three to five years						More than five years						Total						Nominal value						Amortization						Annual
																																																																								Effective rate						Nominal rate
																								ThUS$						ThUS$						ThUS$						ThUS$						ThUS$						ThUS$						ThUS$												%						%
Lease Liability
						AIRCRAFT						OTHERS						US$						80,602						250,297						845,215						776,431						1,094,935						3,047,480						2,134,968						—						—						—
						OTHER ASSETS						OTHERS						US$						1,727						8,080						20,641						6,251						1,763						38,462						35,157						—						—						—
																		CLP						20						34						69						—						—						123						111						—						—						—
																		UF						574						1,568						3,007						2,515						6,273						13,937						11,703						—						—						—
																		COP						76						227						301						—						—						604						518						—						—						—
																		EUR						84						253						246						24						—						607						571						—						—						—
																		BRL						2,064						6,192						14,851						12,491						28,625						64,223						33,425						—						—						—
Trade and other accounts payables
						OTHERS						OTHERS						US$						80,557						58,342						—						—						—						138,899						138,899						—						—						—
																		CLP						168,393						1,231						—						—						—						169,624						169,624						—						—						—
																		BRL						370,772						5,242						—						—						—						376,014						376,014						—						—						—
																		Other currency						583,118						3,935						—						—						—						587,053						587,053						—						—						—
Accounts payable to related parties currents
Foreign						Inversora Aeronáutica Argentina S.A.						Argentina						US$						5						—						—						—						—						5						5						—						—						—
Foreign						Patagonia Seafarms						U.S.A						US$						7						—						—						—						—						7						7						—						—						—
						Total																		1,287,999						335,401						884,330						797,712						1,131,596						4,437,038						3,488,055
						Total consolidated																		1,728,818						912,456						2,118,180						3,613,655						2,912,885						11,285,994						8,164,064

Classification of financial instruments at fair value

The following table shows the classification of financial instruments at fair value, depending on the level of information used in the assessment:

			As of December 31, 2023																								As of December 31, 2022
									Fair value measurements using  values considered as																								Fair value measurements using  values considered as
			Fair value						Level I						Level II						Level III						Fair value						Level I						Level II						Level III
			ThUS$						ThUS$						ThUS$						ThUS$						ThUS$						ThUS$						ThUS$						ThUS$
Assets
Cash and cash equivalents			89,706						89,706						—						—						95,452						95,452						—						—
Short-term mutual funds			89,706						89,706						—						—						95,452						95,452						—						—
Other financial assets, current			22,136						—						22,136						—						21,601						—						21,601						—
Fair value interest rate derivatives			—						—						—						—						8,816						—						8,816						—
Fair value of fuel derivatives			22,136						—						22,136						—						12,594						—						12,594						—
Fair value of foreign currency derivative			—						—						—						—						191						—						191						—
Liabilities
Other financial liabilities, current			1,544						—						1,544						—						—						—						—						—
Fair value of foreign currency derivatives			1,544						—						1,544						—						—						—						—						—

Schedule of financial instruments which are not recorded at fair value

In order to meet the disclosure requirements of fair values, the Company has valued these instruments as shown in the table below:

			As of December 31, 2023												As of December 31, 2022
			Book value						Fair value						Book value						Fair value
			ThUS$						ThUS$						ThUS$						ThUS$
Cash and cash equivalents			1,625,055						1,625,055						1,121,223						1,121,223
Cash on hand			2,019						2,019						2,248						2,248
Bank balance			552,187						552,187						480,566						480,566
Overnight			75,236						75,236						259,129						259,129
Time deposits			995,613						995,613						379,280						379,280
Other financial assets, current			152,683						152,683						481,914						481,914
Other financial assets			152,683						152,683						481,914						481,914
Trade debtors, other accounts receivable and Current accounts receivable			1,385,910						1,385,910						1,008,109						1,008,109
Accounts receivable from entities related, current			28						28						19,523						19,523
Other financial assets, non-current			34,485						34,485						15,517						15,517
Accounts receivable, non-current			12,949						12,949						12,743						12,743
Other current financial liabilities			594,519						867,791						802,841						824,167
Accounts payable for trade and other accounts payable, current			1,765,279						1,765,279						1,627,992						1,627,992
Accounts payable to entities related, current			7,444						7,444						12						12
Other financial liabilities, non current			6,341,669						6,174,294						5,979,039						5,533,131
Accounts payable, non current			418,587						418,587						326,284						326,284

X

- Definition

The disclosure of detailed information about hedges.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Note Expired 2023-01-01
-Name IFRS
-Number 7
-IssueDate 2023-01-01
-Paragraph 22
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2023-en-r&anchor=para_22&doctype=Standard
-URIDate 2023-03-23

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Namespace Prefix:	ifrs-full_
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X

- Definition

The disclosure of financial liabilities. [Refer: Financial liabilities]

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 7
-IssueDate 2023-01-01
-Paragraph 7
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2023-en-r&anchor=para_7&doctype=Standard
-URIDate 2023-03-23

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Namespace Prefix:	ifrs-full_
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X

- Definition

The disclosure of information that enables users of financial statements to evaluate the nature and extent of risks arising from financial instruments to which the entity is exposed. [Refer: Financial instruments, class [member]]

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 7
-IssueDate 2023-01-01
-Paragraph 31
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2023-en-r&anchor=para_31&doctype=Standard
-URIDate 2023-03-23

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