Latin American LCCs take 58% market share as COVID-19 bites
Much of Latin America has been closed off to domestic and international aviation since Mar-2020 in order to curb the spread of COVID-19. And while the region remains a hotspot for the virus, some countries are starting to restart commercial airline flights.
Domestic operations never fully ceased in Latin America’s two largest aviation markets – Brazil and Mexico. But the largest full service airlines in those countries, LATAM Airlines Brazil and Aeromexico, are now in Chapter 11 bankruptcy protection, working to rightsize their operations to adjust to the new reality of COVID-19.
Before the pandemic, low cost operators in Brazil and Mexico were the largest domestic airlines in each country, respectively, and now their share could expand further as full service airlines move through the restructuring process.
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