Aviation
Commercial /
Americas
Chapter 11
LATAM CEO says company will leave judicial recovery strengthened
Airbus A320
Latam
Rafael Luiz Canossa, CC BY-SA 2.0, via Wikimedia Commons
Rafael Ramos
11/29/2021
LATAM's CEO, Roberto Alvo, outlined a possible scenario for the company's departure from Chapter 11, the judicial reorganization in which it finds itself. He says that after the departure, the company will have an “incomparable” financial strength.
The company's recovery plan includes the payment of debts of LATAM Brasil, so that the company will be very well positioned financially, including for “aggressive growth”. In addition, Alvo said that LATAM will be the most important airline in Brazil.
"The plan proposes the injection of 8.19 billion dollars to the group through a combination of new capital, convertible bonds and debt, which will allow the group to exit Chapter 11," the company said in a statement released in the early morning of the 27th. .
We show here on the website that LATAM was elected the most punctual company in Latin America. In addition, the company, in Brazil, already has more domestic destinations than before the pandemic. Another sign of growth is that Latam Brasil has already led the market share of domestic flights in Brazil for at least three months.
Target says the New York court must approve the reorganization plan within the next three months, as well as Chilean shareholders and approval by the Chilean CVM. The CEO concluded the press conference saying that Latam will end the process stronger than ever.
Ross Parmly/Unsplash
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Rafael Ramos
Aviation enthusiast from an early age, he had his first contacts with the area developing that good old habit of spending dozens of hours in front of the screens of Micrsoft Flight Simulator and other simulators. With a solid background in various technological areas, including engineering and chemistry, Rafael has rejoined aviation as editor and author of articles and materials on our portal, providing invaluable help to the dynamics and expansion of the website and the aeronautical community, bringing us the news and updates so indispensable for us to remain current in our area of operation.
   
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