Europe-Latin America aviation: TAP Air Portugal sale to change market structure

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Europe to Latin America, the third most important long haul region for European airlines, is back to 98% of 2019 capacity.

This places it below the North Atlantic, but ahead of Europe-Asia Pacific.

Within the Europe to Latin America market, Upper South America is the biggest sub-region, while Central America is the only one above its 2019 capacity levels.

European airlines dominate Europe-Latin America, with 78% of seats scheduled for the first week of the winter 2023/2024 season, but Latin American airlines have modestly gained seat share since pre-pandemic.

Air France and Iberia are the top two airlines by seats, with Air France-KLM and IAG the leading groups. Europe's other major group, Lufthansa Group, is only seventh.

However, all three have shown interest in the forthcoming privatisation of TAP Air Portugal, which could significantly change the rankings. It will certainly increase concentration in the Europe-Latin America market.

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