LATAM Airlines Group has launched Wednesday in Santiago, Chile, an environmentally conscious plan for the coming years named LATAM Group Sustainability Strategy, to offset 50% of emissions from its domestic operations by 2030.Add your comment!
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 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.
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.
LATAM Airlines Group, the largest airline conglomerate in Latin America, announced it will lay off 1,400 workers from its branches in Chile, Colombia, Ecuador, and Peru. The news was confirmed by the company on May 15, after Reuters released an internal video where LATAM CEO Roberto Alvo announced the measures to its employees.
With this year's sell-off in emerging markets assets hasn't just dented investor returns and confidence, but also weighed heavily on global companies with exposure to developing economy currencies. One that is LATAM Airlines, by far South America's biggest carrier and among the world's largest by network connections.