Last week, the LATAM Airlines Group emerged from its Chapter 11 bankruptcy protection status in the US. The group left with what it called a solid financial position, having paid back about 35% of its debt and reached more than US$2,2bn (R39,19bn) in liquidity.
LATAM was in the bankruptcy process for a total of 29 months due to the impact of the COVID-19 pandemic worldwide, according to Simple Flying. The group now faces US$3,6bn (R64,13bn) less debt and has the support of new shareholders for the future.
“As a group with a dynamic team of 30 000 employees and an unrivalled connectivity network, we look forward to continuing to offer passengers the best alternative for travel to, from, and within South America and to contribute in the broader sense to the various countries in which we operate and their diverse interests,” says Robert Alvo, LATAM Airlines Group CEO.
LATAM is now aiming high, hoping to finish 2022 with 85% more Available Seat Kilometres than in 2019, packing on new routes to add to global capacity.
The group will acquire 87 new Airbus A320 aircraft by 2029, and expects to lease a number of Airbus A321XLRs from the Air Lease Corporation.
