LATAM Airlines Renews Alliance with Banco Santander for Five Years

LATAM Airlines Group SA has extended its strategic alliance with Banco Santander Chile for an additional five years. The alliance, spanning three decades, has given rise to the most recognized loyalty program in the Chilean market and offers customers travel benefits and access to the LATAM Pass program. LATAM Airlines Group SA provides passenger and cargo air transportation services in Latin America, with a commitment to sustainability.

LATAM Airlines Group SA (NYSE: LTM) has extended its strategic alliance with Banco Santander Chile (NYSE: BSAC) for an additional five years. This renewal marks the continuation of a 30-year partnership that has significantly contributed to the development of the most recognized loyalty program in the Chilean market. The LATAM Pass program, facilitated by the alliance, offers customers travel benefits and access to exclusive rewards, enhancing their overall travel experience.

The LATAM Pass program has grown rapidly, with over 51 million members worldwide, representing a 40% increase since 2019. This growth highlights the program's popularity and the value it provides to its members. The alliance has enabled the redemption of approximately 2 million airline tickets annually, equivalent to operating 3,415 A320 aircraft exclusively with alliance passengers [1].

Banco Santander Chile, with total assets of US$69.4 billion as of June 2025, and a strong BIS capital ratio of 17.0%, has played a crucial role in this partnership. The renewal of the alliance strengthens both companies' market positions while maintaining valuable customer benefits for over 688,000 program members in Chile. This long-standing partnership is a strategic asset for both companies in the competitive Chilean financial and travel markets [2].

The renewal of the alliance is a significant milestone for both LATAM Airlines Group SA and Banco Santander Chile. It not only preserves one of Latin America's most successful co-branded loyalty programs but also underscores the commitment of both companies to elevating the travel experience of their members. As LATAM continues to expand its passenger and cargo services in Latin America, this partnership will remain a cornerstone of its operations, providing customers with enhanced benefits and unique travel experiences.

References:
[1] https://www.quiverquant.com/news/Banco+Santander+Chile+and+LATAM+Airlines+Renew+Strategic+Alliance%2C+Enhancing+Loyalty+Program+for+Customers
[2] https://www.stocktitan.net/news/BSAC/banco-santander-and-latam-pass-renew-their-historic-alliance-n50g47gszi6d.html