Chile-based Latam Airlines says it will continue operating while seeking bankruptcy protection as it confronts a steep drop in passenger numbers due to the coronavirus pandemic.
FILE - In this July 25, 2016, file photo, an agent of LATAM airlines stands by the counters at the airport in Santiago, Chile. The South American carrier said Tuesday, May 26, 2020, it is seeking Chapter 11 bankruptcy protection as it grapples with the sharp downturn in air travel sparked by the coronavirus pandemic.
South American carrier Latam Airlines says it is seeking Chapter 11 bankruptcy protection as it grapples with the sharp downturn in air travel sparked by the coronavirus pandemic. The carrier aims to continue operating and hopes to reduce its debt and find new financing sources through the bankruptcy process.Latam said the bankruptcy filing has the support of two families that have big stakes in the company, as well as large shareholder Qatar Airways.
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