Today, the Court of the Southern District of New York’s judge approved the request for the extension of the exclusivity period to present LATAM’s Reorganization Plan until Oct. 15. As previously reported, this request, submitted on Sept. 9, is an alternative contemplated within the process.
It should be recalled that LATAM Airlines Group and its affiliates in Chile, Colombia, Ecuador, USA, Peru and Brazil, voluntarily made use of Chapter 11 in May 2020, after the serious consequences of the COVID-19 pandemic. Through this process, affiliates will be able to resize their operations and adapt them to new demand and reorganize their financial balance, allowing them to reemerge as more agile, efficient and sustainable businesses for a post-pandemic stage.
