Banco Santander and LATAM Join Forces for Enhanced Loyalty Program

Strengthening the Loyalty Program in Chile

This renewal ensures the continuity of the longest-standing alliance in the country, which enables the redemption of around 2 million tickets per year on average. This milestone drives the alliance to continue innovating in its product value proposition, reaffirming the commitment to continuously enhance the travel experience of the program’s members.

Banco Santander Chile (NYSE: BSAC; SSE: Bsantander) and LATAM Airlines Group S.A. (NYSE: LTM; SSE: LTM) have renewed their strategic alliance for another five years, consolidating over three decades of collaboration. This partnership has enabled the development of the most recognized loyalty program in the Chilean market, connecting millions of people with travel-related benefits and LATAM Pass program services.

A Partnership Built on Trust

Over the past 30 years, the alliance has consistently received high customer appreciation. To illustrate the scale of the partnership, an average of around 2 million airline tickets are redeemed each year through miles accumulated via the bank’s products. This is equivalent to operating 3,415 A320 aircraft exclusively with alliance passengers. In addition, alliance members have enjoyed an enhanced flying experience thanks to the benefits offered by the affiliated credit cards.

Insights from Banco Santander

Andrés Trautmann, Country Head of Banco Santander Chile, shared insights on the importance of this renewal: “With more than 30 years of history, this alliance has become a cornerstone of our daily relationship with customers. Its renewal is a strategic decision aimed at strengthening and projecting into the future a value proposition that has proven to be relevant and widely appreciated by those who place their trust in us.”

Enhancing Customer Experiences

“We are thrilled to renew this alliance with Banco Santander, a strategic partner for LATAM Pass, with whom we aim to continue creating value for customers. This milestone continues a historic relationship and reaffirms our commitment to elevating the travel experience of every one of our members. At LATAM Pass, we will continue working to offer unique benefits and unforgettable experiences through the region’s leading loyalty program,” stated Roberto Alvo, CEO of the LATAM Group.

Currently, the LATAM Pass program boasts over 51 million members worldwide and has grown by 40% since 2019, making it the fourth-largest loyalty program in the Americas and the seventh-largest globally. This remarkable growth speaks volumes about the program's effectiveness in meeting customer needs.

The Significance of the Santander LATAM Pass Alliance

Meanwhile, the Santander LATAM Pass alliance currently has more than 688,000 customers, making it the most established, valued, and important loyalty program in Chile. Its remarkable performance showcases the trust customers instill in this collaboration, enhancing their travel experiences significantly.

About Banco Santander Chile

Banco Santander Chile is recognized as one of the companies with the highest risk ratings in Latin America, boasting an A2 rating from Moody's, A- from Standard & Poor's, A+ from the Japan Credit Rating Agency, AA- from HR Ratings, and A from KBRA. All of our ratings have a stable outlook as of the date of this report. As of mid-2025, the bank had total assets of Ch$66,188,442 million (approximately US$69,371 million), demonstrating its strong financial position.

Financial Strength and Stability

As of June 30, 2025, total gross loans at amortized cost were approximately Ch$40,942,542 million (US$42,911 million), total deposits reached Ch$29,614,613 million (US$31,039 million), and shareholders' equity totaled Ch$4,514,322 million (US$4,731 million). The BIS capital ratio stood at an impressive 17.0%, with a core capital ratio of 10.9%. As of mid-2025, Santander Chile employed 8,660 people and operated with 231 branches throughout the country.

Understanding the LATAM Pass Loyalty Program

The LATAM Pass loyalty program allows its members to earn miles by flying, using credit cards, and interacting with participating merchants. These miles can then be redeemed for flights and various products available on the LATAM Pass Shopping platform. Members also enjoy exclusive benefits tailored to their tier, enhancing their onboard experience. The program's adaptability to the modern traveler's needs continues to solidify its reputation.

Frequently Asked Questions

What is the significance of the renewed alliance between Banco Santander and LATAM?

The renewal strengthens a long-standing partnership, enhancing member benefits, and reaffirming their commitment to providing valuable travel experiences.

How many members are there in the LATAM Pass program?

Currently, the LATAM Pass program boasts over 51 million members globally.

What are the benefits of the Santander LATAM Pass alliance?

Members enjoy exclusive travel rewards, enhanced flying experiences, and access to redemption opportunities, such as approximately 2 million airline tickets annually.

How financially stable is Banco Santander Chile?

Banco Santander Chile holds a strong financial position with total assets of approximately Ch$66,188,442 million and various reputable ratings from agencies.

How can I earn LATAM Pass miles?

Members earn miles by flying, using credit cards, and engaging with participating merchants within the LATAM Pass loyalty program.

About The Author

Hi there I'm 38-year-old author and financial consultant Owen Jenkins. Having worked in the financial sector for more than ten years, I am well-versed in the subtleties and complexity that mold our financial environment. Following a degree in finance, I worked in a number of financial institutions honing my abilities in market analysis, financial planning, and investment strategies.

My love is teaching others about investing and personal finance. My goal in writing many books and articles has been to demystify financial ideas and give readers the information they need to make wise financial decisions. I write with a direct, useful style that emphasizes doable suggestions for daily living.

Along with writing, I lead webinars and seminars where I impart knowledge on how to successfully negotiate the financial world. I also write for financial journals and show up as a guest expert on financial news programs a lot. Whether they are new to investing or want to improve their approach, my mission is to enable people to take charge of their financial futures.

Beyond work, I like to hike, play the guitar, and spend time with my family. I think that balance is crucial and want to encourage people to strike a balance between their financial aspirations and their hobbies. I want to help people succeed and achieve financial security through my work, so having a good influence.

Contact Owen Jenkins privately here. Or send an email with ATTN: Owen Jenkins as the subject to contact@investorshangout.com.

About Investors Hangout

Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/

The content of this article is based on factual, publicly available information and does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice, and the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. This article should not be considered advice to purchase, sell, or hold any securities or other investments. If any of the material provided here is inaccurate, please contact us for corrections.