Latam Airlines Surges as Demand Withstands Jet Fuel Price Shocks

Latam Airlines Group SA shares surged after the region’s largest carrier by market value beat earnings expectations and said demand had remained resilient to higher fares driven by surging jet fuel costs.

A jump in fuel prices didn’t materially impact the company’s first-quarter results, Chief Executive Officer Roberto Alvo said Wednesday, saying there were “healthy” indications for mid-year bookings, with aircraft “filling up nicely” despite higher ticket prices. The stock was up 10% at 9:50 a.m. in New York, the best performer among its peers.