INVESTMENTS IN SUBSIDIARIES

12 Months Ended

Dec. 31, 2018

Disclosure of subsidiaries [abstract]

INVESTMENTS IN SUBSIDIARIES

NOTE 14 - INVESTMENTS IN SUBSIDIARIES

(a) Investments in subsidiaries

The Company has investments in companies recognized as investments in subsidiaries. All the companies defined as subsidiaries have been consolidated within the financial statements of LATAM Airlines Group S.A. and Subsidiaries. The consolidation also includes special-purpose entities.

Detail of significant subsidiaries and summarized financial information:

			Ownership
			As of		As of
	Country of	Functional	December 31,		December 31,
Name of significant subsidiary	incorporation	currency	2018		2017
			%		%
Lan Perú S.A.	Peru	US$		70.00000		70.00000
Lan Cargo S.A.	Chile	US$		99.89803		99.89803
Lan Argentina S.A.	Argentina	ARS		99.86560		99.86560
Transporte Aéreo S.A.	Chile	US$		100.00000		100.00000
Aerolane Líneas Aéreas Nacionales del Ecuador S.A.	Ecuador	US$		100.00000		100.00000
Aerovías de Integración Regional, AIRES S.A.	Colombia	COP		99.19061		99.19061
TAM S.A.	Brazil	BRL		99.99938		99.99938

The consolidated subsidiaries do not have significant restrictions for transferring funds to controller.

Summary financial information of significant subsidiaries

													Results for the year
	Statement of financial position as of December 31, 2018												ended December 31, 2018
	Total		Current		Non-current		Total		Current		Non-current				Net
Name of significant subsidiary	Assets		Assets		Assets		Liabilities		Liabilities		Liabilities		Revenue		Income
	ThUS$		ThUS$		ThUS$		ThUS$		ThUS$		ThUS$		ThUS$		ThUS$
Lan Perú S.A.		417,767		379,490		38,277		407,570		406,157		1,413		1,161,205		1,652
Lan Cargo S.A.		511,275		243,499		267,776		334,498		292,153		42,345		269,783		(34,401	)
Lan Argentina S.A.		243,173		235,919		7,254		239,127		236,702		2,425		254,069		(148,032	)
Transporte Aéreo S.A.		330,777		72,597		258,180		128,428		27,440		100,988		304,084		(17,847	)
Aerolane Líneas Aéreas Nacionales del Ecuador S.A.		106,487		96,564		9,923		95,860		89,819		6,041		234,169		(1,135	)
Aerovías de Integración Regional, AIRES S.A.		116,118		55,865		60,253		77,746		69,149		8,597		291,827		(5,068	)
TAM S.A. (*)		4,304,126		2,007,830		2,296,296		3,013,831		1,727,151		1,286,680		4,650,526		(12,538	)

													Results for the year
	Statement of financial position as of December 31, 2017												ended December 31, 2017
	Total		Current		Non-current		Total		Current		Non-current				Net
Name of significant subsidiary	Assets		Assets		Assets		Liabilities		Liabilities		Liabilities		Revenue		Income
	ThUS$		ThUS$		ThUS$		ThUS$		ThUS$		ThUS$		ThUS$		ThUS$
Lan Perú S.A.		315,607		294,308		21,299		303,204		301,476		1,728		1,046,423		1,205
Lan Cargo S.A.		584,169		266,836		317,333		371,934		292,529		79,405		264,544		(30,220	)
Lan Argentina S.A.		198,951		166,445		32,506		143,731		139,914		3,817		387,557		(41,636	)
Transporte Aéreo S.A.		324,498		30,909		293,589		104,357		36,901		67,456		317,436		2,172
Aerolane Líneas Aéreas Nacionales del Ecuador S.A.		96,407		66,166		30,241		84,123		78,817		5,306		219,039		3,722
Aerovías de Integración Regional, AIRES S.A.		138,138		64,160		73,978		91,431		80,081		11,350		279,414		526
TAM S.A. (*)		4,490,714		1,843,822		2,646,892		3,555,423		2,052,633		1,502,790		4,621,338		160,582

													Results for the year
	Statement of financial position as of December 31, 2016												ended December 31, 2016
	Total		Current		Non-current		Total		Current		Non-current				Net
Name of significant subsidiary	Assets		Assets		Assets		Liabilities		Liabilities		Liabilities		Revenue		Income
	ThUS$		ThUS$		ThUS$		ThUS$		ThUS$		ThUS$		ThUS$		ThUS$
Lan Perú S.A.		306,111		283,691		22,420		294,912		293,602		1,310		967,787		(2,164	)
Lan Cargo S.A.		480,908		144,309		336,599		239,728		211,395		28,333		266,296		(24,813	)
Lan Argentina S.A.		216,331		194,306		22,025		200,172		197,330		2,842		371,896		(29,572	)
Transporte Aéreo S.A.		340,940		36,986		303,954		124,805		59,668		65,137		297,247		8,206
Aerolane Líneas Aéreas Nacionales del Ecuador S.A.		89,667		56,064		33,603		81,101		75,985		5,116		219,676		(1,281	)
Aerovías de Integración Regional, AIRES S.A.		129,734		55,132		74,602		85,288		74,160		11,128		277,503		(13,675	)
TAM S.A. (*)		5,287,286		1,794,189		3,493,097		4,710,308		2,837,620		1,872,688		4,145,951		2,107

(*) Corresponds to consolidated information of TAM S.A. and Subsidiaries

(b) Non-controlling

			As of		As of		As of			As of
Equity		Country	December 31,		December 31,		December 31,			December 31,
	Tax No.	of origin	2018		2017		2018			2017
			%		%		ThUS$			ThUS$
Lan Perú S.A	0-E	Peru		30.00000		30.00000		3,063			3,722
Lan Cargo S.A. and Subsidiaries	93.383.000-4	Chile		0.10196		0.10196		(100	)		849
Promotora Aérea Latinoamericana S.A. and Subsidiaries	0-E	Mexico		0.00000		51.00000		-			4,578
Inversora Cordillera S.A. and Subsidiaries	0-E	Argentina		0.13940		0.13940		8,684			3,502
Lan Argentina S.A.	0-E	Argentina		0.02890		0.02842		(472	)		79
Americonsult de Guatemala S.A.	0-E	Guatemala		1.00000		1.00000		1			1
Americonsult S.A. and Subsidiaries	0-E	Mexico		0.20000		0.20000		1			-
Americonsult Costa Rica S.A.	0-E	Costa Rica		1.00000		1.00000		11			12
Linea Aérea Carguera de Colombiana S.A.	0-E	Colombia		10.00000		10.00000		(462	)		(520	)
Aerolíneas Regionales de Integración Aires S.A.	0-E	Colombia		0.79880		0.80944		378			461
Transportes Aereos del Mercosur S.A.	0-E	Paraguay		5.02000		5.02000		1,740			1,324
Multiplus S.A.	0-E	Brazil		27.26000		27.26000		67,096			77,139
Total								79,940			91,147

			For the year ended						For the year ended
Incomes		Country	December 31,		December 31,		December 31,					December 31,
	Tax No.	of origin	2018		2017		2016		2018			2017			2016
			%		%		%		ThUS$			ThUS$			ThUS$
Lan Perú S.A	0-E	Peru		30.00000		30.00000		30.00000		1,012			360			(649	)
Lan Cargo S.A. and Subsidiaries	93.383.000-4	Chile		0.10196		0.10196		0.10196		(395	)		(4	)		(7	)
Promotora Aerea Latinoamericana S.A. and Subsidiaries	0-E	Mexico		0.00000		51.00000		51.00000		-			1,416			96
Inversora Cordillera S.A. and Subsidiaries	0-E	Argentina		0.13940		0.13940		0.70422		183			117			364
Lan Argentina S.A.	0-E	Argentina		0.02890		0.02842		0.13440		39			24			77
Americonsult de Guatemala S.A.	0-E	Guatemala		1.00000		1.00000		1.00000		-			-			(4	)
Americonsult S.A. and Subsidiaries	0-E	Mexico		0.20000		0.20000		0.00000		2			-			-
Linea Aérea Carguera de Colombiana S.A.	0-E	Colombia		10.00000		10.00000		10.00000		58			398			(106	)
Aerolíneas Regionales de Integración Aires S.A.	0-E	Colombia		0.79880		0.80944		0.80944		(41	)		4			(140	)
Transportes Aereos del Mercosur S.A.	0-E	Paraguay		5.02000		5.02000		5.02000		717			299			146
Multiplus S.A.	0-E	Brazil		27.26000		27.26000		27.26000		29,737			42,796			41,673
Total										31,312			45,410			41,450

(*) On September 4, 2018, LATAM Airlines Brazil send a communication to Multiplus informing it that it intends to: (i) not renew or extend the contract of the operation when it expires; and (ii) make a public offer to acquire the shares of Multiplus that are not owned by it, in order to cancel the registration of Multiplus as a public limited company in the Comissão de Valores de Mobiliários of the Federative Republic of Brazil (CVM) and delist it from the Novo Mercado de B3. This process is subject to the approval of the Brazilian securities regulator and the public offer for the acquisition of shares is successful.