LATAM Leads Brazil’s Aviation Market in Q1 2024 with Significant Capacity Share

In the competitive skies of Brazil, LATAM Airlines Group has emerged as the leader in capacity share during the first quarter of 2024, holding a commanding 35.5% of all departure seats from and within the country. This places LATAM ahead of Azul, which holds a 29.3% share, and GOL Linhas Aéreas, with 26.9%. The shift in market leadership, which saw LATAM overtaking GOL in 2021, highlights the dynamic nature of Brazil’s aviation sector.

As Brazil’s aviation landscape continues to evolve, LATAM is setting its sights on further expansion, targeting a 7%-9% increase in domestic capacity within Brazil for 2024. This growth strategy unfolds as GOL Linhas Aéreas embarks on an operational restructuring through a Chapter 11 filing. GOL’s strategic move is aimed at overcoming the myriad challenges posed by the COVID-19 pandemic, including a significant debt burden, the impact of a weakened Brazilian currency, and the lack of substantial government support during the crisis.

The overall capacity within Brazil, Latin America’s largest aviation market, stands at approximately 33.1 million departure seats for the first quarter of 2024. This figure represents a slight decrease from the 34.3 million seats recorded in the same period in 2019. However, domestic capacity has rebounded to 96.4% of the 2019 levels, showcasing a robust recovery. Similarly, international capacity has made a marginal recovery, currently at 96.5% compared to the pre-pandemic period.

These developments underscore the resilience and competitive spirit of Brazil’s aviation industry as it navigates the post-pandemic recovery phase. With LATAM Airlines Group leading the way in capacity share, and other key players like Azul and GOL adapting to the changing market dynamics, Brazil’s aviation sector is poised for continued growth and transformation in the years ahead.