Quantcast
LATAM Airlines says operations to plunge 50% by year's end - Metro US

LATAM Airlines says operations to plunge 50% by year’s end

LATAM airlines logo, is seen inside of the Commodore Arturo Merino Benitez International Airport in Santiago

SANTIAGO (Reuters) – LATAM Airlines Chief Executive Roberto Alvo said on Thursday he expects the region´s largest carrier to be operating at half of pre-pandemic levels by the end of 2020, and that a full recovery was unlikely for at least 3-4 years.

LATAM filed for U.S. bankruptcy protection last month, aiming to restructure $18 billion in debt. It was the world’s largest airline to date to seek an emergency reorganization due to the coronavirus pandemic.

Alvo said the company plans to file a $2 billion plan with the U.S. bankruptcy court in the coming days to address the crisis.

(Reporting by Fabian Cambero, writing by Dave Sherwood)

More from our Sister Sites