Tag: Roberto Alvo

• Monday, November 29th 2021 - 19:18 UTC

  LATAM Airlines plunges at Santiago stock exchange

  

  Latam Airlines stock plunges over 80% at the Santiago market after a reshaping plan was announced, one which evaporated the value of current shares. The proposal is yet to be voted on by creditors between January and February 2022.

• Monday, November 29th 2021 - 09:29 UTC

  LATAM presents reorganization plan, rejects Brazilian group offer, and has to wait until January 27

  

  LATAM Airlines Group said on Friday it had filed a reorganization plan, proposing a US$8.2 billion injection of capital in a bid to exit its Chapter 11 bankruptcy process, and at the same time announced it had rejected the Brazilian airline Azul acquisition proposal as “incomplete” and “insufficient”.

• Wednesday, November 10th 2021 - 09:15 UTC

  LATAM releases 3Q results: despite losses of US$ 692 million, business picking up and costs down

  

  LATAM reported on Tuesday that during the third quarter of this year it registered a net loss of US$ 691.9 million, due to the costs of maintenance and the expenses of the restructuring carried out by the pandemic.

• Saturday, October 9th 2021 - 04:21 UTC

  LATAM Group orders brand new aircraft to replace ageing units

  

  South America's LATAM Airlines Group has placed orders for 70 new short-haul Airbus A 320 aircraft to replace its currently ageing units of the same model, it was announced earlier this week.

• Friday, May 7th 2021 - 08:40 UTC

  LATAM Airlines goes environment conscious for the years to come

  

  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.

• Thursday, July 9th 2020 - 10:45 UTC

  Progress in Chapter 11 tranche financing for LATAM Airlines

  

  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.

• Thursday, June 18th 2020 - 23:00 UTC

  LATAM Argentina announces options for purchased ticket holders

  

  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.

• Thursday, June 18th 2020 - 10:15 UTC

  LATAM's Argentina branch will cease operations indefinitely; 1,715 staff to be laid off

  

  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.

• Tuesday, May 19th 2020 - 08:42 UTC

  LATAM Chile, Colombia, Ecuador, Peru to lay off 1,400 workers

  

  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.

• Tuesday, August 21st 2018 - 08:25 UTC

  Latam announces 2Q results; currencies' turbulence has hit shares, down 25%

  

  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.