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A LATAM Boeing 777 on approach to Amsterdam. (Photo: AirlineGeeks | Fabian Behr)

LATAM Ecuador Adds New Route in South America

From April 1, LATAM Ecuador will start a new route between Quito, Ecuador and Bogotá, Colombia with a frequency of 5 weekly flights. This new route that will link the 2 South American capitals will operate on Mondays, Tuesdays, Wednesdays, Fridays and Sundays.

LATAM Ecuador’s CEO, Mónica Fistrovic, guaranteed that this new route will stimulate tourism between Colombia and Ecuador, as well as trade, production and other different objectives where connectivity is key.

The new route announcement is evidence that the LATAM Airlines Group is committed to continuing to connect Ecuadorians and promote Ecuador in other international destinations. For his part, the Ecuadorian Tourism Minister, Niels Olsen, pointed out that the Ecuadorian government is working to improve national and international connectivity.

Airlines — as strategic allies — for growing tourism and demand help the return to frequencies and routes that existed before the pandemic.

According to El Universo, this new route will be operated according to the following schedule:

ROUTE FLIGHT DAY DEPARTURE TIME ARRIVAL TIME
BOG-UIO LA 1443 Tuesdays and Sundays 20:07 21:45
UIO-BOG LA 1442 Tuesdays and Sundays 17:15 18:45
BOG-UIO LA 1441 Monday, Wednesdays and Fridays 09:37 11:15
UIO-BOG LA 1440 Monday, Wednesdays and Fridays 07:00 08:30

In this way, LATAM Ecuador strengthens its international network, making Ecuador more visible as a tourist and commercial destination.

LATAM Airlines Group’s Reorganization Plan

LATAM Airlines Group obtained the approval of the Disclosure Statement by the Court in the United States.

Bankruptcy Judge from the Bankruptcy Court for the Southern District of New York, James Garrity, ruled that creditors may begin voting on the Reorganization Plan submitted to the Court on November 26, 2021.

This represents a fundamental step for LATAM’s exit from Chapter 11. At the hearing, the judge heard arguments about a dispute between the airline and a group of creditors.

On March 10, some LATAM Airlines Group’s creditors said that one airline’s unit should be blocked from collecting $1.3 billion from another airline subsidiary because the claim was never a valid loan.

It should be remembered that this resolution occurred after the Court approved the modification and the new consolidated DIP credit agreement text between LATAM and its financiers on March 15.

The Court also set the Confirmation Hearing for May 17 and 18, in which the Court will evaluate the definitive Reorganization Plan. According to a statement issued by LATAM, the airline expects to successfully emerge from the Chapter 11 Procedure during the second half of 2022.

As a result, the group will be able to access $3.7 billion in liquidity and refinance its existing DIP credit agreement.

Last week, the Court approved the commitment and support agreements in provision for the reorganization and financing plan proposed by LATAM. These settlements represent approximately $5.4 billion in committed funds.

Author

  • The three things Juan loves most about aviation are aircraft, airports, and traveling thousands of miles in just a few hours. What he enjoys the most about aviation is that it is easier and cheaper to travel around the world and this gives you the opportunity to visit places you thought were too far away. He has traveled to different destinations in North, Central, South America and Asia. Born, raised and still living in Perú, Juan is a lawyer, soccer lover, foodie, passionate traveler, dog lover, millennial and curious by nature.

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