MercoPress. South Atlantic News Agency

LATAM Group requests an extension of the restructuring deadline to November 26

The LATAM Airlines Group and its affiliates appealed to Chapter 11 process in May 2020 because of the serious financial consequences suffered by the pandemic

Latam this week requested the US Bankruptcy Court for the Southern District of New York an extension of the deadline to lodge its restructuring plan until 26 November. The request “supports the continuity of the advances in negotiations with the different parts interested in the Chapter 11 process” argued the Chilean group in its presentation.

The current deadline period is this Friday 15 October but “the extension request is a usual alternative contemplated in the process”.

The LATAM  Airlines Group and its affiliates in Chile, Colombia, Ecuador, United States, Peru and Brazil appealed to the Chapter 11 process because of the serious financial consequences suffered by the Covid 19 pandemic.

“Through Chapter 11 process LATAM affiliates can re dimension their operations and adapt them to the new demand scenario and reorganize their financial balance sheets, allowing them to resurface leaner, more efficient and sustainable for the post-pandemic situation”.