LATAM Airlines Group S.A. (‘LATAM’) today presented the second tranche financing proposal to the Court of the Southern District of New York, as part of the Chapter 11 process. Tranche A amounts to US$1.3 billion that was committed by Oaktree Capital Management L.P. and its affiliates. This proposal must be reviewed and approved by the court in the coming days.
LATAM Airlines Group and its affiliates announced today that they will temporarily suspend additional international services until April 30, 2020, due to travel restrictions put in place by national authorities and lower demand resulting from the COVID-19 (Coronavirus) pandemic.
Former Argentine Army conscript Edgardo Esteban Wednesday claimed LATAM Brasil's planned Sao Paulo-Mount Pleasant passenger flight with a stop in the Argentine city of Córdoba serves only the interests of the Falkland islanders.
Chile’s LATAM Airlines Group SA has asked Brazil’s antitrust regulator Cade to boost its voting stake in LATAM Airlines Brazil to 51%, formalizing a controlling interest in Brazil’s No. 2 airline that for years it was unable to achieve because of local restrictions.
The Executive Council has today Wednesday authorised the Chief Executive of the Falkland Islands Government to complete the necessary negotiations with LATAM Airlines Brazil and to finalise a contract, subject to agreement with MLAs, to establish and operate a new weekly route between Sao Paulo and the Falkland Islands.