Latin America's largest airline LATAM filed for bankruptcy in the US on Tuesday, the company said in a statement, following a drastic slump in business caused
in the US on Tuesday, the company said in a statement, following a drastic slump in business caused by the coronavirus pandemic.
"Given the impact that the COVID-19-generated crisis has had on the aviation industry, LATAM has been forced to make a series of extremely difficult decisions in the past few months," said the airline's chief executive Roberto Alvo in a video statement. Chapter 11 proceedings allow a company that is no longer able to repay its debt to restructure without pressure from creditors.
It came just two weeks after Latin America's second largest airline, Colombia's Avianca, also filed forThe International Air Transport Association has forecast a $15 billion loss in revenue for Latin American airlines this year.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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