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Investing.com -- Banco Santander Chile (NYSE:BSAC) and LATAM Airlines Group S.A. (NYSE:LTM) have renewed their strategic alliance for another five years, extending a collaboration that spans more than three decades.
The partnership has developed into the most recognized loyalty program in the Chilean market, providing millions of customers with travel benefits and LATAM Pass program services.
The scale of the alliance is significant, with approximately 2 million airline tickets redeemed annually through miles accumulated via bank products. This volume equals the capacity of 3,415 A320 aircraft filled exclusively with alliance passengers.
Andrés Trautmann, Country Head of Banco Santander Chile, called the alliance "a cornerstone of our daily relationship with customers" and described the renewal as a strategic decision to strengthen their value proposition.
Roberto Alvo, CEO of the LATAM Group, expressed enthusiasm about continuing the partnership, stating that they aim to "continue creating value for customers" and remain committed to "elevating the travel experience" for members.
The LATAM Pass program now has over 51 million members worldwide and has grown by 40% since 2019. It ranks as the fourth-largest loyalty program in the Americas and the seventh-largest globally.
The Santander (BME:SAN) LATAM Pass alliance currently serves more than 688,000 customers, making it the most established and valued loyalty program in Chile.
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