SANTIAGO (Reuters) – Latin America’s largest airline, Ladam Airlines, said late Saturday that a U.S. court has approved the company’s restructuring plan.
The ruling comes a month after a New York court heard a case under Chapter 11 of the U.S. Bankruptcy Act triggered by the impact of the Govit-19 epidemic, announcing that the airline had approved all of its lenders’ plans.
Latam CEO Roberto Alvo said in a statement: “We are delighted that the judge has confirmed our restructuring plan.
The project seeks US $ 8.19 billion in funding through capital increases, three convertible bonds and new debt.
The airline, which entered bankruptcy protection in May 2020, said it would focus on completing outstanding operations in Chile, including a meeting of extraordinary shareholders to approve the new capital structure and the registration of shares and convertible securities with the local regulatory body. , Among others.
Latham is expected to exit the Chapter 11 process in the second half of 2022, with the company headquartered in Santiago and having branches in Brazil, Colombia, Ecuador, Peru and the United States.
(Report by Natalia Ramos)
“Internet addiction in terminals. Award-winning beer expert. Travel expert. General analyst.”
More Stories
Cleaners at prestigious UK girls’ school win pay and conditions dispute
Soybeans fall in Chicago, with expectations of a good harvest in the US
Support planned for UK households struggling with winter energy bills