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

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

Reuters June 19, 2020 00:05:38 IST
LATAM Airlines says operations to plunge 50% by year´s end

LATAM Airlines says operations to plunge 50 by years end

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)

This story has not been edited by Firstpost staff and is generated by auto-feed.

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