LATAM Group completes financial restructuring with $2.2bn liquidity

LATAM Group has successfully completed its financial restructuring in the United States with over $2.2bn liquidity and approximately US$3.6bn less debt on its balance sheet. The restructuring was completed through a Chapter 11 process in the US Bankruptcy Court and is one of the largest Chapter 11 restructurings undertaken for a non-US airline. The Group had voluntarily commenced this restructuring process to reduce its debt, access new sources of financing, and transform its business in response to the global pandemic, after almost 30 months. Roberto Alvo, CEO of LATAM Airlines Group, said: “Today marks an important milestone for LATAM and