LATAM Airlines Group informs that LATAM Airlines Argentina announced on Wednesday that it will cease passenger and cargo operations for an indefinite period. The announcement is a result of current market conditions, exacerbated by the impact of the COVID-19 pandemic and the difficulty of building structural agreements with local industry actors, which has made it impossible to foresee a viable and sustainable long-term project.
Brazilian retail sales plunged at a record pace in April as social isolation measures choked spending, official figures showed indicating the economy’s contraction in the second quarter could be even more severe than anticipated.
LATAM Airlines Group said on Wednesday its Argentine subsidiary will cease operations indefinitely, cancelling all domestic flights, its first major cutback since filing for bankruptcy protection. The announcement fell short of saying the company, Latin America’s largest airline, will entirely wind down its subsidiary, although it is unclear if it will ever resume operations.
The Trump administration announced it plans to nominate the top White House official for Latin America to lead the Inter-American Development Bank, aiming to break a six-decade tradition of choosing the bank's leadership from candidates in that region.
Investment flows to Latin America are expected to halve in 2020 from the US$ 164 billion received last year, according to UNCTAD's World Investment Report 2020.
Argentina has extended confidentiality agreements with creditors by one day to allow further negotiations as the two sides seek a last-ditch agreement to restructure around US$ 65 billion in debt.
Some of Argentina’s largest creditors presented a new debt proposal to the government over the weekend as the two sides edge closer to a US$ 65 billion restructuring deal, according to people familiar with the matter.
Chilean copper miners' unions called on Sunday for a re-evaluation of the operational continuity plans of the country's biggest miners during what they said was an alarming increase in coronavirus cases among workers.
EasyJet aircraft will take to the skies this Monday for the first time since Mar 30, as the British carrier resumes a small number of mainly domestic flights after weeks of lockdown.
Unilever proposed collapsing its Anglo-Dutch legal structure into a single holding company based in Britain on Thursday, nearly two years after shareholders sank an earlier plan to move its headquarters to the Netherlands.