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EconomyFinancialLATAM Airlines announces date to exit its bankruptcy process
Financial

LATAM Airlines announces date to exit its bankruptcy process

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LATAM Airlines, the largest air transport group in Latin America, confirmed on Friday night that on November 3 it will emerge from the bankruptcy process it is carrying out in the United States.

The company filed for Chapter 11 of the Bankruptcy Law in 2020 due to the impact of the pandemic and last June obtained court approval to exit the process after presenting a reorganization plan that intends to inject some 8,000 million dollars by increasing capital, issuance of convertible bonds and new debt.

Said process will allow the group to emerge more agile, with a more competitive cost structure, adequate liquidity to face the future, with approximately 10.3 billion dollars in equity and a debt close to 6.9 billion dollars. disclosed by the company.

This week, the airline provided the details of its exit financing and announced that it expected to emerge from chapter 11 during the first week of November.

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