LATAM Airline is airline of Latin America.
2020: The statement for bankruptcy because of coronavirus epidemic
In May, 2020 the group of Latam Airlines Group airlines and its division in Chile, Peru, Colombia, Ecuador and the USA submitted the application for bankruptcy according to Article 11 of the Bankruptcy code of the USA.
The company reported that it secured with financing at the rate to $900 million from two largest shareholders - Cueto and Amaro's families and Qatar Airways airline. About about $1.3 billion are at the disposal of the company.
In the course of debt restructuring of Latam and its division will continue to perform air transportation as far as it circumstances will allow, the company promised.
"At the beginning of a pandemic of COVID-19 Latam was healthy and profitable airline, however exceptional circumstances led to collapse of the global demand and not only actually stopped aircraft, but also changed a situation in the industry in the near future", - the chief executive officer of Latam Roberto Alvo told.
Latam and its subsidiary companies also conduct negotiations with the governments of Chile, Brazil, Colombia and Peru on additional financing, protection of jobs and minimization of interruptions in transactions.
| The site content is translated by machine translation software powered by PROMT. The machine-translated articles are not always perfect and may contain errors in vocabulary, syntax or grammar. Read original article If you find inaccuracies or errors in the results of machine translation, please write to editor@tadviser.ru. We will make every effort to correct them as soon as possible. |