We are looking ahead to a post-COVID future, focused on adapting to a new way of flying, with the health and safety of passengers and employees as paramount.
– Roberto Alvo, CEO, LATAM Airlines Group
LATAM Will Continue to Fly
No impact on passenger or cargo operations, reservations, Vouchers, or latam Pass miles or points
Update — July 9, 2020
On May 26, we announced the voluntary decision of LATAM Airlines Group and its affiliates in Chile, Colombia, Ecuador Peru and United States, to join the financial reorganization process under U.S. Chapter 11 protection. We are certain that this was the best alternative to restructure our finances comprehensively and ensure long-term sustainability.
Today (July 9), LATAM Airlines Brasil also joins this process of voluntary reorganization as a natural movement because of the prolongation of the Coronavirus pandemic. We are sure that the integration to Chapter 11 is the best option for LATAM Airlines Brasil to have access to new sources of liquidity, strengthening our leadership position in the airline industry.
On May 26, 2020, LATAM Airlines Group filed to reorganize under Chapter 11 protection in the United States. Importantly, we want our stakeholders to know that we will continue to operate as travel restrictions and demand permit, paying our employees, meeting benefit obligations, and paying critical suppliers as well as respecting LATAM Pass miles and flight reservations as we work through the Chapter 11 reorganization process. Click here for an infographic that explains our process moving forward.
The U.S. Chapter 11 financial reorganization process provides a clear and guided opportunity to work with our creditors and other stakeholders to reduce our debt, address commercial challenges that we, like others in our industry, are facing as a group. It is very different from the concept of bankruptcy in other countries and is not a liquidation proceeding.
Our group has shared our journey with the people of Latin America, thriving in times of growth and pulling together to overcome times of adversity. LATAM will emerge from this process a more efficient, resilient, and ultimately strengthened airline group that is better placed to serve Latin America.
Click below to hear from LATAM Airlines Group CEO Roberto Alvo on what this announcement means for our future: