LATAM announced the cancellation of the route between Bogotá and Madrid, a decision influenced by recent economic factors and the reduction in aircraft and engine production.

According to Santiago Álvarez, current director of LATAM Colombia, the devaluation of the Colombian peso against the dollar was one of the main challenges that impacted the profitability of the route.

Most of the company’s costs are denominated in dollars, worsening the situation due to unfavorable exchange rate fluctuations. The route, which was inaugurated on July 1, operated until December 1. Álvarez highlighted that, despite the early cancellation, the operation itself was successful.

He emphasized the significant impact the peso’s devaluation has had in recent months, with approximately 70% of costs in dollars, forcing the company to reevaluate its operational decisions, reported Aeroin.

LATAM achieved a total of 28 routes this year, doubling the figure recorded in 2018, and now holds a market share of 28%. The airline has a fleet of 29 aircraft and employs 2,400 people.

Additionally, the LATAM brand reached 71% recognition in 2024, with 36% of users preferring to fly with the company, a significant improvement compared to 2018.

Erika Zarante Bahamón, who will assume the position of director in January, revealed expansion plans for 2025, projecting a 9% growth in international routes. Starting in March, frequencies between Bogotá and Lima will increase to 28 weekly flights, while the Bogotá-São Paulo route will have 14 weekly flights.