Latam Airlines, the largest air transport group in Latin America, announced on Thursday night (3) the conclusion of its judicial reorganization process in the United States, in a move already anticipated by the airline.
In 2020, Latam filed an application under Chapter 11 of the Bankruptcy Act due to the impact of the pandemic, and last June it received court approval to exit the lawsuit, after presenting an injection plan of 8 billion dollars via capital increase, convertible bond issues and new debt.
“Having maintained its leadership position while significantly reducing costs, Latam emerged from the reorganization as a more efficient group,” the company said in a statement on Thursday.
The airline said in mid-October that it would emerge from judicial recovery on November 3. The company’s debt on the balance sheet has decreased by about 35% from the period before the start of the restructuring process, according to the statement on Thursday.
Source: CNN Brasil
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