LATAM files for Chapter 11 bankruptcy protection
LATAM has filed for Chapter 11 protection. The procedure will allow the airline to keep operating while being protected from its creditors and to undergo restructure.
The LATAM Group while includes affiliates in Chile, Peru, Colombia, Ecuador and the United States have all filed for voluntary protection under the U.S. Chapter 11 financial reorganisation process. (LATAM’s affiliates in Argentina, Brazil and Paraguay are not included in the filing.)
The group says its intention is to “ transform its business to maintain a leading position in Latin American aviation in the post COVID-19 era.”