LATAM Airlines Group S.A. and its affiliates in Chile, Peru, Colombia, Ecuador and the United States have announced they have filed for voluntary protection under the US Chapter 11 financial reorganization process to ensure long-term sustainability, the companies said.
LATAM´s affiliates in Argentina, Brazil and Paraguay are not included in the filing.
LATAM will gain the support of the Cueto and Amaro families and Qatar Airways, two of the largest shareholders of LATAM.The group will transform its business to maintain a leading position in Latin American aviation in the post COVID-19 era.
LATAM Airlines Group and its affiliates will continue flying with no impact on passenger or cargo operations, reservations, vouchers or LATAM Pass miles.
LATAM and its affiliates are also in discussions with their respective governments of Chile, Brazil, Colombia and Peru to assist in sourcing additional financing, protect jobs where possible and minimize disruption to its operations.
ATAM Airlines Group S.A. and its affiliates will continue to operate passenger and cargo flights, subject to demand and travel restrictions.