BUZZ-LATAM Airlines gains altitude on record annual results

Shares in Latin America's largest airline, carrier LATAM LTM.SN, climb 2% around mid-day in Santiago after reporting record annual results

Net income in the fourth quarter more than tripled to $272 million, from revenues which ticked up some 4%

"LATAM continues to show best-in-class figures," analysts at J.P. Morgan write

The board will also consider a share buyback of up to $150 million, "considering the current share ADR price may be undervalued compared to historic multiples," CEO Roberto Alvo tells analysts

LATAM ADRs LTM tick up 1% in New York to $30.66 apiece

LATAM sees healthy travel demand, with opportunity to grow its JV with Delta DAL.N in Ecuador and Colombia though it acknowledges recent "overcapacity" in Colombia's domestic market

LATAM does not see significant evidence of new entrants into the markets where it operates, according to execs, appearing to shrug off reports that new open-skies agreements to allow foreign airlines to operate domestically in countries such as Brazil could come to fruition

LATAM's Chilean shares have climbed 9% this week, rising in anticipation of the results