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SANTIAGO, Chile, Nov. 03, 2022 (GLOBE NEWSWIRE) — LATAM Group, the leading airline group in Latin America, announced today that it has successfully completed its financial restructuring process in the United States, which it scaled down in May In 2020, it had voluntarily started its debt, is finding new sources of funding, and is transforming its business in response to the global pandemic. Having maintained its leadership position while achieving significant cost savings, LATAM has emerged from the reorganization as a more efficient group, with a modernized fleet, the most extensive network of connections in South America and the largest loyalty program on the continent.
With over $2.2 billion in liquidity, approximately $3.6 billion less debt on the balance sheet (representing a 35% reduction in debt from the period prior to the filing), and the support of key established and new shareholders, LATAM is ready , to reaffirm its leadership position in Latin America and has positioned itself for long-term sustainability.
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