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Latam Airlines files for bankruptcy protection

by OtownGist

LATAM Airlines Airbus 320 NEO taxiing seen at the Santiago airport, Chile.

Latin America’s largest airline has filed bankruptcy protection in New York after the coronavirus pandemic grounded flights across the region.

The move allows Latam Airlines Group to keep operating while it works out a plan to pay creditors and turn around the business.

The Chilean carrier said it continues to operate on a reduced schedule and has commitments for a loan of up to $900m (£736m).

Earlier this month Colombia’s largest airline Avianca filed for bankruptcy, dragged down by a sharp drop in customers and large debts.

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