Banco Santander Chile and LATAM Airlines Group have agreed to extend their long-running strategic alliance for another five years, continuing a partnership that has been a fixture in the Chilean market for more than three decades.

Over the years, this collaboration has grown into the country’s most recognized travel loyalty program, offering millions of customers exclusive travel benefits through the LATAM Pass program. The scale is impressive, each year, around 2 million airline tickets are redeemed using miles earned from Santander banking products. To put that into perspective, it’s the equivalent of filling over 3,400 Airbus A320 planes with passengers traveling solely through the program.

For Banco Santander Chile, the renewal is more than just a contract extension. Country Head Andrés Trautmann called the alliance “a cornerstone of our daily relationship with customers,” adding that it plays a vital role in strengthening the bank’s value proposition.

LATAM Airlines CEO Roberto Alvo echoed that sentiment, saying the renewed agreement reflects their shared commitment to enhancing the travel experience. He said the company will continue working with Santander to create value for customers, with a focus on making the LATAM Pass program even more rewarding.

The LATAM Pass program itself has seen significant growth. With more than 51 million members worldwide, up 40% since 2019, it has become the fourth-largest loyalty program in the Americas and the seventh-largest globally. In Chile, the Santander LATAM Pass alliance serves more than 688,000 customers, maintaining its position as the most established and valued loyalty program in the country.

This renewal ensures that both brands will keep building on their shared history, offering customers more ways to earn and redeem travel rewards while further cementing their leadership in the region’s loyalty market.