Banco Santander and LATAM Renew Strategic Alliance, Strengthening Loyalty Program and Airline Revenue

Banco Santander Chile and LATAM Airlines Group have renewed their 30-year partnership until 2030. The LATAM Pass program now serves over 51 million members worldwide, with a 40% increase since 2019. The alliance enables approximately 2 million airline ticket redemptions annually, equivalent to the capacity of 3,415 A320 aircraft. The partnership has contributed to Banco Santander's strong financial standing, with total assets of US$69.4 billion and a BIS capital ratio of 17.0%.

Santiago, Chile, July 2, 2025 — Banco Santander Chile and LATAM Airlines Group have renewed their 30-year partnership, which will now extend until 2030. This strategic alliance, originally established in 1995, has significantly contributed to the growth and success of both companies, particularly in the travel and tourism sectors.

The renewal of the partnership is centered around the LATAM Pass program, a cornerstone of the relationship between Banco Santander Chile and LATAM Airlines. The program has seen substantial growth, with over 51 million members worldwide, a 40% increase since 2019 [2]. This expansion has positioned the LATAM Pass program as the fourth-largest loyalty program in the Americas and the seventh-largest globally.

The alliance facilitates approximately 2 million airline ticket redemptions annually, equivalent to the capacity of 3,415 A320 aircraft [3]. This volume underscores the success of the LATAM Pass program in promoting travel and economic activity linked to tourism and business sectors in Chile.

The partnership has also bolstered Banco Santander's financial standing. As of June 30, 2025, the bank had total assets of US$69.4 billion and a BIS capital ratio of 17.0% [3]. This strong financial position is partly attributable to the strategic partnership, which has provided Banco Santander with a significant competitive advantage in the banking sector.

The renewal of the partnership reflects both companies' commitment to enhancing the customer experience and continuing to innovate in their product value proposition. By joining banking services with travel incentives, Banco Santander Chile and LATAM Airlines have created a seamless experience for their customers, making travel more accessible and rewarding.

With global travel bouncing back, this alliance demonstrates the potential of loyalty programs to open more doors to affordable travel. Chilean travelers will continue to benefit from pocket-friendly flights, which helps keep local tourism thriving and strengthens LATAM as the go-to airline across Latin America.

References:
[1] https://www.travelandtourworld.com/news/article/tag/chile/
[2] https://www.travelandtourworld.com/news/article/chile-banco-santander-and-latam-airlines-renew-partnership-to-boost-travel-benefits-for-millions/
[3] https://www.marketscreener.com/news/banco-santander-and-latam-pass-renew-their-historic-alliance-reaffirming-the-leadership-of-the-loya-ce7c5ed3d988f52c