LATAM ends third quarter with US$3.3 billion to face crisis

LATAM Airlines Group reported that despite posting a net loss of US$573.1 million in the third quarter, the group maintains a solid financial position of US$3.3 billion composed of US$866 million in cash and short-term investments and US$2.45 billion corresponding to the DIP financing agreement. LATAM reported revenues of US$512.9 million between July and September, an 80.8% decrease compared to the same period of the prior year. This decline is a result of operational restrictions caused by COVID-19 and reduced passenger demand. Cargo revenues increased 12.8%, driven by an increase in frequency of flights from Bogotá to Miami, and from