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Forums >> Internode >> Latam, Latin American airline filed bankruptcy

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User: 58939 - 39 posts
Nina
Comfortable life


posted 05:03PM
Tue 26th May 2020
Latam, the largest Latin American airline, filed for bankruptcy.

Latam Airlines, Chilean Airlines Has filed an receivership under Article 11 of the United States Bankruptcy Law After the outbreak of the Covid-19 virus Resulting in the cancellation of many flights. In addition, the governments of various countries have announced the use of locking down measures to control the spread Also affected the airline business as well
Latam Airlines, the largest airline in the Latin American region Filed a custody request under Section 11 with the New York Court of America to allow Latam Airlines to continue its operations while the airline is in the process of making plans for debt to creditors and recovering the business.

Latam Airlines, which has shareholders, including the Chilean Cueto family and Delta Airlines Will continue to provide aviation services But with fewer flights

It is expected that the airline will receive a loan after filing for bankruptcy. The amount will be up to 900 million dollars. These funds will come from the Cuetos family, Amaro family and Qatar Airways. In addition, Latam Airlines will receive $ 1.3 billion in cash.



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User: 63115 - 76 posts
michelle
eric bearing


posted 01:38PM
Thu 4th Jun 2020
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