SANTIAGO (Reuters) – LATAM Airlines on Friday said it had obtained approval on its second try of a crucial $2.45 billion bankruptcy loan to take the airline out of Chapter 11 restructuring, after having its first package rejected by a judge last week.
The judge rejected the initial plan due to a convertible loan that he concluded was too beneficial to the airline’s current shareholders. The new package was similar, but did not include the convertible loan.
(Reporting by Fabian Cambero)
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