LATAM Group leaves the Chapter process 11

latam airlines chapter 11 financial restructuring bankruptcy process routes destinations fleet shareholders

The LATAM group, Aerol's main groupíborn of Américh latina, announcementó salió successfully of your process of Capíleakage 11 on USA.

To said entry processó voluntarily in May of 2020 to reduce your debt, access new sources of financing and transform your business in response to the global pandemic. Having kept his positionóleadership n and achieving important cost savings, LATAM ha emergido de la reorganizationón Like an M groupás efficient, with a modern fleet, The connection network MáS extensive of Southérich and the biggest fidelization programón of the continent.

Con más of US$ 2.200 millions of liquidity, approximately $3.6 billion less debt on its balance sheet (equivalent to a reductionón of the 35% of the debt prior to entering the process), and the support of current and new major shareholders, It is wideá prepared to reaffirm your leadership in AMéLatin rich and has a sustainable future.

«Today marks a very important milestone for LATAM. We are happy because we have completed a transformationón significant and we have left our restructuring processón with a positionóFinancial financial n and a renewed commitment to operational excellence. as a group, With a DIN teamámonkey of 30.000 employees and a network of unmatched connectivity, We hope to continue offering passengers the best alternative to travel to, From and inside Sudamérich and contribute to the needs of the different Países in which we operate”, Robert Alvo said, CEO de LATAM Airlines Group.

Así SALEM DEL CAPíleakage 11

Red: LATAM It is the airline groupíneas líthere an Américh latina, With subsidiaries that operate in five Dom marketséstics of the regionón: Perú, Ecuador, Brazil, Chile and Colombia, and international operations within Latinamérich and to Europe, United States and the Caribbean, Oceanía y próximamente a ÁFrica then Latam Airlines Brazil resumesá the Sao Paulo route – Johannesburg in the middle of 2023.

As of October of this month the group reachedó the 144 destinations in 22 países, hoping to close theño con una surgeryón global (measurement in seat-kiloómeters available – ASK) greater than 85% regarding the 2019. Between 2021 and 2022, THE SUM GROUPó 10 new destinations in Brazil and plans to operate 36 new routes for 2023.

LATAM Cargo: LATAM Cargo And the burdens are in the middle of an expansi planón to allow youá increase their respective fleets of a current total of 11 Boeing 767-300F aircraft in 2019 to a total 20 767-300F aircraft in 2024 what to improveá Transport options for your customers.

Joint Venture con Delta: Recently, The LATAM group has implemented a joint venture with Delta to allowá To passengers access Más de 300 destinations between USA/ Canadá y Américh from the South (Brazil, Chile, Colombia, Paraguay, Perú and Uruguay). The agreement facilitatesá that the aerosolíneas increase your level of cooperationón in the mentioned markets, what is translatedá In a greater Númere routes, más and better connections and strengthening the benefits of frequent passenger programs.

Fleet: LATAM cerró Airbus agreements to acquire until 2029 a total of 87 family aircraft A320neo, which are 20% más efficient in fuel consumption.

Frequent Flyer Program: with 39 million members, LATAM Pass It is the loyalty program máSudam's bigérich and séthe best máS Big worldwide.

The trajectory of the LATAM group, Your leadership in AMéRica Latina and her robust business plan made it possible to complete its restructuringón with the support of its new shareholders Sixth Street, Strategic Value Partners and Sculptor Capital Management and their incumbent shareholders, Delta, Qatar and the Cueto family.

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2 Comments on “Grupo Latam leaves the chapter 11 process”

  1. carlos valdivieso

    Hi Nicolas, I have seen Equ Air arrive several times directly to Quito from Galapagos and San Cristobal. But they only come directly, they don't go out. Is it part of the triangulation with Guayaquil or is it temporary?

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