LATAM Airlines files for U.S. Chapter 11 bankruptcy protection

LATAM Airlines Airbus departing from John F. Kennedy International Airport Credit: Adam Moreira (Creative Commons Attribution ShareAlike 4.0)

Latin America's largest airline Latam Airlines says it is seeking Chapter 11 bankruptcy protection due to a slump in travel worldwide sparked by the Covid-19 pandemic.

Latam said the bankruptcy filing has the support of the Cueto and Amaro families, as well as large shareholder Qatar Airways.

The company said it had about $1.3 billion in cash on hand and its affiliates in Argentina, Brazil and Paraguay were not included in the Chapter 11 filing.

LATAM Airlines' Brazilian affiliates are in discussions with the Brazilian government about the next steps and financial support for operations in the country.

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Source: MSN

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Adam Moreira (Creative Commons Attribution ShareAlike 4.0)

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Érico Andrei

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Co-founder of Pendect, passionate about open source and knowledge sharing. Made in Mooca.

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