LATAM Files for Bankruptcy Protection in United States; Brazil Operations Not Included

Major shareholders will inject US$900 million into the company and seek new investors and public aid.

RIO DE JANEIRO, BRAZIL - LATAM, the largest airline company in Latin America, filed for bankruptcy protection in the US on Tuesday, due to the dramatic drop in activity caused by the Covid-19 pandemic, the company announced in a statement. The Chilean-Brazilian-owned company is appealing to the US bankruptcy law (Article 11) to reorganize and resize itself according to new demand conditions after the pandemic.

The company stated that it has the support of its main shareholders, who will inject US$900 million (R$4 billion). Last month, the company said it had reduced its operations by 95 . . .

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