Latam Airlines Group S.A. (LTM) and its affiliates in Chile, Peru, Colombia, Ecuador and the U.S. have filed for Chapter 11 bankruptcy protection due to the impact of the coronavirus pandemic on the global aviation industry.The Latin American airline said that it has secured up to $900 million in financing from the Cueto and Amaro families and Qatar Airways, two of its largest shareholders. As of the Chapter 11 filing, the group had about $1.3 billion in cash on hand.During the debt restructuring process, Latam and its affiliates will continue flying as conditions permit, the airline said.Commercial airline travel has …read more
Source:: Yahoo Finance
