How will airline consolidation’s next chapter in Latin America be written?

Consolidation in Latin America has taken many forms over the years, and even as Avianca and LATAM Airlines Group - both the products of mergers - have emerged to become two of the region's largest airlines, there have been attempts at more fusion in the market post-pandemic.

The ultimate composition of the airline industry in Latin America is an unknown; but it's worth examining how the industry has evolved to its current state.