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OTHER FINANCIAL LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2023

Disclosure Of Other Liabilities [Abstract]

Schedule of composition of other financial liabilities

The composition of other financial liabilities is as follows:

			As of December 31, 2023						As of December 31, 2022
			ThUS$						ThUS$
Current
(a) Interest bearing loans			292,982						629,106
(b) Lease Liability			301,537						173,735
(c) Hedge derivatives			1,544						—
Total current			596,063						802,841
Non-current
(a) Interest bearing loans			3,675,212						3,936,320
(b) Lease Liability			2,666,457						2,042,719
Total non-current			6,341,669						5,979,039

Schedule of currency balances of interest bearing loans

Obligations with credit institutions and debt instruments:

			As of December 31, 2023						As of December 31, 2022
			ThUS$						ThUS$
Current
Bank loans (2)			53,141						353,284
Guaranteed obligations			28,697						17,887
Other guaranteed obligations (1)(2)			67,005						66,239
Subtotal bank loans			148,843						437,410
Obligation with the public (2)			34,731						33,383
Financial leases			109,304						156,285
Other loans			104						2,028
Total current			292,982						629,106
Non-current
Bank loans (2)			976,293						1,032,711
Guaranteed obligations			275,225						307,174
Other guaranteed obligations (1)			363,345						408,065
Subtotal bank loans			1,614,863						1,747,950
Obligation with the public (2)			1,268,107						1,256,416
Financial leases			792,242						931,954
Total non-current			3,675,212						3,936,320
Total obligations with financial institutions			3,968,194						4,565,426

(1)The committed "Revolving Credit Facility (RCF)" is guaranteed by collateral composed of aircraft, engines and spare parts, which was fully drawn until November 3, 2022. Once emerged from Chapter 11, the line was fully paid and of December 31, 2023 and December 31, 2022, it is available to be used.

(2)On March 14, 2022, a new consolidated and modified text of the Existing DIP Credit Agreement (the “New Consolidated and Modified DIP Credit Agreement”) was submitted to the Court for its approval. The New Consolidated and Amended DIP Credit Agreement (i) fully refinanced and replaced the existing Tranches A, B and C in the Existing DIP Credit Agreement; (ii) contemplated a maturity date in accordance with the calendar that the Debtors anticipated to emerge from the Chapter 11 Procedure; and (iii) included certain reductions in fees and interest compared to the Existing DIP Credit Agreement and the Recast and Amended DIP Initial Financing Proposal. The obligations under the DIP were secured by assets owned by LATAM and certain of its affiliates, including, but not limited to, shares, certain engines and spare parts.

On April 8, 2022, a consolidated and modified text was signed(the "Recast and Modified DIP Credit Agreement”) of the Original DIP Credit Agreement, which modified and consolidated said agreement and repaid the obligations pending payment under it. (that is, under its Tranches A, B and C). The total amount of the Consolidated and Modified DIP Credit Agreement was US$3.700 million. The Consolidated and Amended DIP Credit Agreement (i) included certain reductions in fees and interest compared to the Existing DIP Credit Agreement; and (ii) contemplated an expiration date in accordance with the calendar that LATAM anticipated to emerge from the Chapter 11 Procedure. Regarding the latter, the scheduled expiration date of the Consolidated and Modified DIP Credit Agreement was August 8, 2022, subject to to possible extensions that, in certain cases, had a deadline of November 30, 2022.

Likewise, on April 8, 2022, the initial disbursement took place under the Consolidated and Modified DIP Credit Agreement for the amount of MUS$2,750. On April 28, 2022, an amendment to said contract was signed, extending the expiration date from August 8, 2022 to October 14, 2022.

On October 12, 2022, said Consolidated and Modified DIP Credit Agreement was repaid in its entirety with the DIP-to-Exit financing, which contemplated bridge financing for senior secured bonds maturing in 2027 for MUS$750, MUS$750 in other bridge financing for senior secured notes due 2029, a MUS$750 Term Financing, a financing called Junior DIP, for a total of MUS$1,146 , and, lastly, a US Revolving Credit Facility MUS$500, which is not drawn. The DIP-to-exit financing was collateralized by assets owned by LATAM and certain of its affiliates. Of these, the Junior DIP contemplated a subordinate priority to the rest of the credits.

On October 18, 2022, the Bridge Loans were partially repaid by: i) a bond issue exempt from registration under U.S. Securities Act of 1933, as amended (the “Securities Act”), pursuant to Rule 144A and Regulation S, both under the Securities Act, due 2027 (the “5-Year Bonds”), by a total principal amount of MUS$450 and ii) a bond issue exempt from registration under the Securities Law pursuant to Rule 144A and Regulation S, both under the Securities Law, due 2029 (the “Bonds to 7 Years”), for a total principal amount of MUS$700.

In the context of the exit of the Company from the Chapter 11 Procedure on November 3, 2022, the Bridge Loans were repaid with additional: MUS$350 corresponding to an incremental loan of Term Loan B.

On November 3, 2022, the company and all of its subsidiaries successfully emerged from Chapter 11.

Balances by currency of interest bearing loans are as follows:

			As of December 31, 2023						As of December 31, 2022
Currency			ThUS$						ThUS$
Brazilian real			—						314,322
Chilean peso (U.F.)			160,730						157,288
US Dollar			3,807,464						4,093,816
Total			3,968,194						4,565,426

Schedule of interest-bearing loans due in installments

																								Nominal values																																										Accounting values
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						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 accounting value						Amortization						Annual
																																																																																																						Effective rate						Nominal rate
																								ThUS$						ThUS$						ThUS$						ThUS$						ThUS$						ThUS$						ThUS$						ThUS$						ThUS$						ThUS$						ThUS$						ThUS$												%						%
Bank loans
0-E						GOLDMAN SACHS						U.S.A.						US$						2,750						8,250						22,000						1,056,000						—						1,089,000						44,891						8,250						22,000						954,293						—						1,029,434						Quarterly						20.31						15.04
Obligations with the public
97.036.000-K						SANTANDER						Chile						UF						—						—						—						—						160,214						160,214						—						516						—						—						160,214						160,730						At Expiration						2.00						2.00
97.036.000-K						SANTANDER						Chile						US$						—						—						—						—						3						3						—						—						—						—						3						3						At Expiration						1.00						1.00
0-E						WILMINGTON TRUST COMPANY						U.S.A.						US$						—						—						—						450,000						700,000						1,150,000						—						34,215						—						434,204						673,686						1,142,105						At Expiration						15.00						13.38
Guaranteed obligations
0-E						BNP PARIBAS						U.S.A.						US$						2,912						9,168						26,772						28,945						103,907						171,704						3,936						9,168						26,121						28,553						103,541						171,319						Quarterly						6.98						6.98
0-E						WILMINGTON TRUST COMPANY						U.S.A.						US$						3,854						11,693						32,356						34,083						50,599						132,585						3,900						11,693						32,356						34,083						50,571						132,603						Quarterly/Monthly						8.76						8.76
Other guaranteed obligations
0-E						CITIBANK						U.S.A.						US$						—						—						—						—						—						—						33						—						—						—						—						33						Quarterly						1.00						1.00
0-E						JP MORGAN CHASE						U.S.A.						US$						—						—						—						—						—						—						17						—						—						—						—						17						Quarterly						0.63						0.63
0-E						CREDIT AGRICOLE						France						US$						—						14,667						29,333						222,768						—						266,768						4,241						14,667						26,154						221,708						—						266,770						At Expiration						9.43						9.43
0-E						MUFG						U.S.A.						US$						11,768						35,960						16,374						—						—						64,102						11,805						35,960						16,374						—						—						64,139						Quarterly						7.11						7.11
0-E						EXIM BANK						U.S.A.						US$						—						—						40,662						42,122						16,325						99,109						282						—						40,662						42,122						16,325						99,391						Quarterly						2.29						2.05
Financial leases
0-E						NATIXIS						France						US$						6,516						19,779						54,443						56,972						77,647						215,357						8,559						19,779						54,117						56,754						77,555						216,764						Quarterly						7.58						7.58
0-E						US BANK						U.S.A.						US$						17,374						49,311						17,492						—						—						84,177						17,905						49,311						15,731						—						—						82,947						Quarterly						4.41						3.16
0-E						PK AIRFINANCE						U.S.A.						US$						—						—						—						—						—						—						—						—						—						—						—						—						Quarterly
0-E						EXIM BANK						U.S.A.						US$						—						—						197,499						141,169						74,404						413,072						1,933						—						195,741						141,169						74,404						413,247						Quarterly						4.13						3.31
0-E						BANK OF UTAH						U.S.A.						US$						2,575						7,202						23,637						37,304						101,864						172,582						2,575						7,202						23,637						37,304						101,864						172,582						Monthly						10.71						10.71
Others loans
0-E						Various (*)												US$						104						—						—						—						—						104						104						—						—						—						—						104						At Expiration						-						-
						Total																		47,853						156,030						460,568						2,069,363						1,284,963						4,018,777						100,181						190,761						452,893						1,950,190						1,258,163						3,952,188

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

Interest-bearing loans due in installments to December 31, 2023
Debtor: TAM S.A. and Subsidiaries, Tax No. 02.012.862/0001-60, Brazil

																					Nominal values																																				Accounting values																																										Annual
																					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						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 accounting value						Amortization
			Tax No.						Creditor Country						Currency																																																																																				Effective rate						Nominal rate
																					ThUS$						ThUS$						ThUS$						ThUS$						ThUS$						ThUS$						ThUS$						ThUS$						ThUS$						ThUS$						ThUS$						ThUS$												%						%
Financial lease
0-E			NATIXIS						France						US$						510						1,530						4,080						9,886						—						16,006						510						1,530						4,080						9,886						—						16,006						Quarterly						—						—
			Total																		510						1,530						4,080						9,886						—						16,006						510						1,530						4,080						9,886						—						16,006
			Total consolidated																		48,363						157,560						464,648						2,079,249						1,284,963						4,034,783						100,691						192,291						456,973						1,960,076						1,258,163						3,968,194

																								Nominal values																																				Accounting values																																				Amortization						Annual
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						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 accounting value												Effective rate						Nominal rate
																								ThUS$						ThUS$						ThUS$						ThUS$						ThUS$						ThUS$						ThUS$						ThUS$						ThUS$						ThUS$						ThUS$						ThUS$												%						%
Bank loans
0-E						SANTANDER						Spain						US$						—						—						70,951						—						—						70,951						173						—						70,951						—						—						71,124						Quarterly						7.26						7.26
0-E						GOLDMANSACHS						U.S.A.						US$						2,750						8,250						22,000						1,067,000						—						1,100,000						30,539						8,250						22,000						939,760						—						1,000,549						Quarterly						18.46						13.38
Obligations with the public
97.036.000- K						SANTANDER						Chile						UF						—						—						—						—						156,783						156,783						505						—						—						—						156,783						157,288						At Expiration						2.00						2.00
97.036.000- K						SANTANDER						Chile						US$						—						—						—						—						3						3						—						—						—						—						3						3						At Expiration						1.00						1.00
0-E						WILMINGTON TRUST COMPANY						U.S.A.						US$						—						—						—						450,000						700,000						1,150,000						—						32,878						—						430,290						669,340						1,132,508						At Expiration						15.00						13.38
Guaranteed obligations
0-E						BNP PARIBAS						U.S.A.						US$						1,761						6,907						22,890						26,035						126,605						184,198						2,637						6,907						22,212						25,627						126,048						183,431						Quarterly						5.76						5.76
0-E						WILMINGTON TRUST COMPANY						U.S.A.						US$						2,208						6,110						32,620						33,210						67,457						141,605						2,233						6,110						32,620						33,210						67,457						141,630						Quarterly/Monthly						8.20						8.20
Other guaranteed obligations
0-E						CREDIT AGRICOLE						France						US$						—						14,667						29,333						231,000						—						275,000						3,837						14,667						26,153						228,880						—						273,537						Quarterly						8.24						8.24
0-E						MUFG						U.S.A.						US$						11,345						34,624						66,419						—						—						112,388						11,404						34,624						66,419						—						—						112,447						Quarterly						6.23						6.23
0-E						CITIBANK						U.S.A.						US$						—						—						—						—						—						—						1,470						—						—						—						—						1,470						At Expiration						1.00						1.00
0-E						EXIM BANK						U.S.A.						US$						—						—						17,737						36,431						32,444						86,612						237						—						17,738						36,431						32,444						86,850						Quarterly						2.01						1.78
Financial leases
0-E						CITIBANK						U.S.A.						US$						6,825						5,689						—						—						—						12,514						6,888						5,689						—						—						—						12,577						Quarterly						6.19						5.47
0-E						BNP PARIBAS						U.S.A.						US$						6,596						20,048						1,521						—						—						28,165						6,776						20,048						1,516						—						—						28,340						Quarterly						5.99						5.39
0-E						NATIXIS						France						US$						6,419						19,341						53,207						55,696						104,475						239,138						8,545						19,341						52,881						55,478						103,905						240,150						Quarterly						6.44						6.44
0-E						US BANK						U.S.A.						US$						16,984						51,532						84,177						—						—						152,693						17,831						51,532						79,805						—						—						149,168						Quarterly						4.06						2.85
0-E						PK AIRFINANCE						U.S.A.						US$						1,533						4,664						6,393						—						—						12,590						1,579						4,664						6,393						—						—						12,636						Quarterly						5.97						5.97
0-E						EXIM BANK						U.S.A.						US$						—						—						113,668						180,260						152,581						446,509						1,923						—						112,666						178,672						151,236						444,497						Quarterly						3.58						2.79
0-E						BANK OF UTAH						U.S.A.						US$						2,321						6,568						20,990						30,557						121,801						182,237						2,321						6,568						20,990						30,557						121,801						182,237						Monthly						10.45						10.45
Other loan
0-E						Various (*)												US$						2,028						—						—						—						—						2,028						2,028						—						—						—						—						2,028						At Expiration						-						-
						Total																		60,770						178,400						541,906						2,110,189						1,462,149						4,353,414						100,926						211,278						532,344						1,958,905						1,429,017						4,232,470

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

Interest-bearing loans due in installments to December 31, 2022
Debtor: TAM S.A. and Subsidiaries, Tax No. 02.012.862/0001-60, Brazil

Tax No.												Creditor Country						Currency						Nominal values																																				Accounting values																																				Amortization						Annual
																								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						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 accounting value												Effective rate						Nominal rate
																								ThUS$						ThUS$						ThUS$						ThUS$						ThUS$						ThUS$						ThUS$						ThUS$						ThUS$						ThUS$						ThUS$						ThUS$												%						%
Bank loans
0-E						Merril Lynch Credit Products LLC						Brazil						BRL						304,549						—						—						—						—						304,549						314,322						—						—						—						—						314,322						Monthly						3.95		%				3.95
Financial lease
0-E						NATIXIS						France						US$						510						1,530						4,080						4,080						7,846						18,046						1,050						1,530						4,080						4,080						7,894						18,634						Semiannual/Quarterly						7.23		%				7.23
						Total																		305,059						1,530						4,080						4,080						7,846						322,595						315,372						1,530						4,080						4,080						7,894						332,956
						Total consolidated																		365,829						179,930						545,986						2,114,269						1,469,995						4,676,009						416,298						212,808						536,424						1,962,985						1,436,911						4,565,426

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

Disclosure of movement of lease liabilities

The movement of the lease liabilities corresponding to the period reported are as follow:

			Aircraft						Others						Lease Liability Total
			ThUS$						ThUS$						ThUS$
Opening balance as of January 1, 2021			3,026,573						94,433						3,121,006
New contracts			518,478						875						519,353
Lease termination			(724,193)						(5,300)						(729,493)
Renegotiations			101,486						5,717						107,203
Payments			(95,831)						(24,192)						(120,023)
Accrued interest			88,245						8,334						96,579
Exchange differences			—						3,356						3,356
Cumulative translation adjustment			—						(2,332)						(2,332)
Other increases (decreases)			(31,097)						(3,914)						(35,011)
Changes			(142,912)						(17,456)						(160,368)
Closing balance as of December 31, 2021			2,883,661						76,977						2,960,638
Opening balance as of January 1, 2022			2,883,661						76,977						2,960,638
New contracts			354,924						13,019						367,943
Lease termination			(19,606)						—						(19,606)
Renegotiations			(76,233)						(4,198)						(80,431)
Exit effect of chapter 11 (*)			(995,888)						—						(995,888)
Payments			(154,823)						(26,172)						(180,995)
Accrued interest			142,939						9,194						152,133
Exchange differences			—						2,279						2,279
Cumulative translation adjustment			(2)						7,463						7,461
Other increases (decreases)			—						2,920						2,920
Changes			(748,689)						4,505						(744,184)
Closing balance as of December 31, 2022			2,134,972						81,482						2,216,454
Opening balance as of January 1, 2023			2,134,972						81,482						2,216,454
New contracts			943,178						2,976						946,154
Lease termination			(13,258)						(1,812)						(15,070)
Renegotiations			(7,194)						2,219						(4,975)
Payments			(376,006)						(23,277)						(399,283)
Accrued interest			212,500						9,633						222,133
Exchange differences			—						2,278						2,278
Subsidiaries conversion difference			6						297						303
Changes			759,226						(7,686)						751,540
Closing balance as of December 31, 2023			2,894,198						73,796						2,967,994

(*) Corresponds to the effect of emergence from Chapter 11 ThUS$679,273 associated with claim settlement (Derecognition of assets for right of use for ThUS$639,728 (See Note 24 letter g (4)) and conversion of Notes forThUS$39,545) and ThUS$316,615 due to IBR rate change.

The Company recognizes interest payments related to lease liabilities in the consolidated result under Finance costs (See Note 26(c)). The Average discount rates for calculation of lease liability are as follows.

			Discount rate December 2023						Discount rate December 2022
Aircraft			9.10%						8.80%
Others			13.00%						10.70%

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 hedging instruments

The fair values of net assets/ (liabilities), by type of derivative, of the contracts held as hedging instruments are presented below:

			As of December 31, 2023						As of December 31, 2022
			ThUS$						ThUS$
Interest rate option (1)			—						8,816
Fuel options (2)			22,136						12,594
Foreign currency derivative R$/BRL$ (3)			(1,544)						191

(1)They cover significant variations in cash flows associated with the market risk implicit in increases in the SOFR interest rate for long-term loans originating from the acquisition of aircraft and bank loans. These contracts are recorded as cash flow hedge contracts.

(2)Hedge significant variations in cash flows associated with market risk implicit in the changes in the price of future fuel purchases. These contracts are recorded as cash flow hedges.

(3) Hedge significant variations in expected cash flows associated with the market risk implicit in changes in exchange rates, particularly the US$/BRL. These contracts are recorded as cash flow hedge contracts.

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The disclosure of detailed information about hedges.

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