Latin America's largest air carrier has filed for bankruptcy in New York
The court filing will allow the Chilean carrier to keep operating while working on a plan to pay off its creditors and figure out how to save the business. The carrier's affiliates in Brazil, Paraguay, and Argentina are not part of the bankruptcy case.
Amid the coronavirus pandemic and hit to global travel, airlines have among those that have suffered the brunt of the impact. Latam isn't as fortunate as what we saw with Lufthansa yesterday, having been granted a multi-billion dollar government bailout.
But the Chilean carrier did mention that they are in talks with governments in Chile, Brazil, Colombia, and Peru for additional financing and assistance.
