LATAM Airlines Brasil files for Chapter 11

9 July, 2020

LATAM Airlines Brasil filed (09-Jul-2020) for Chapter 11 bankruptcy protection in the US, as part of a process to restructure its debt and effectively manage its aircraft fleet, while enabling operational continuity. As previously reported by CAPA, LATAM Airlines Group and its affiliates in Chile, Peru, Colombia, Ecuador and the US are already part of the Chapter 11 process. LATAM said LATAM Airline Brasil's decision is a "natural step in light of the continuing COVID-19 pandemic" and offers the best option to access proposed debtor-in-possession financing which will "provide the tools to adapt to this new reality". [more - original PR]