LATAM Shows Improvements, Nears Chapter 11 Exit

LATAM Airlines Group showed considerable progress in its operation in the 2022 fourth quarter. The 2021 was a challenging year for the carrier, since it has had to fight against new variants, infections, restrictions, and measures. Despite all the difficulties, the Chilean carrier has been able to overcome all the…

Aeroméxico Plans for Bankruptcy Exit

In 2020, Aeroméxico voluntarily entered the Chapter 11 process for financial restructuring to be able to face the billionaire debt that reached up to $5 billion. The Mexican carrier has debts with banking institutions, airport groups, Mexican government entities and suppliers including Boeing. Aeroméxico saw the number of passengers drop…

LATAM Presents Reorganization Plan Including $8.2 Billion Capital Injection

LATAM Airlines Group and its subsidiaries in Brazil, Chile, Colombia, Ecuador, Peru and the U.S. announced the presentation of a reorganization plan, which outlines the group’s strategy to exit Chapter 11 bankruptcy in accordance with U.S. and Chilean legislation. In a press release, the Chilean carrier stated that the plan…

Aeroméxico Reports Its First COVID-19-era Positive Quarter Results

On June 30, 2020, Aeroméxico announced the beginning of a voluntary financial restructuring process under Chapter 11 of the legislation of the U.S., which has been carried out while continuing to operate as a going concern and offering services to its clients with the same quality that characterizes it. Despite…

LATAM Projects Pre-Pandemic Levels of Profitability in 2024, Receives Offers…

LATAM Airlines Group and some of its debtor subsidiaries in Brazil, Chile, Colombia, Ecuador, the U.S. and Peru released their five-year business plan along with various advances related to their exit financing process. LATAM projects, by 2024, a recovery of profitability to the levels of 2019 and an increase in…

Avianca Holdings Receives US Court Approval to Access $2 Billion…

Avianca Holdings announced that it has received approval from the U.S. Bankruptcy Court for the Southern District of New York to access its Debtor-In-Possession (DIP) financing totaling just over $2 billion. “The approval of the DIP financing package is a significant milestone and an important step forward for Avianca. We…

U.S. Court Authorizes Aeroméxico to Return 19 Leased Aircraft

According to Financial Post, a U.S. judge has granted Mexican airline Aeroméxico the right to return at least 19 leased aircraft and 4 engines as part of its bankruptcy restructuring process, according to court documents published on Thursday. The aircraft that will be returned are five Boeing 737-800, five Boeing…

LATAM Airlines Brazil Unit Joins Chapter 11 Bankruptcy File

As the New York Times published on Thursday, LATAM Airlines Group, announced it will be adding its unit in Brazil to the debt restructuring process. The company said the proposal still required approval from the U.S. Court. LATAM also announced it would add its unit in Brazil to the bankruptcy…

Aeromexico Chooses Chapter 11 Restructuring as COVID Battle Rages On

Aeromexico parent group, Grupo AeroMexico SAB., has voluntarily opted to further its restructuring via the Chapter 11 bankruptcy process, the company reported on Tuesday. This comes as other Latin American carriers struggle to restructure themselves in the wake of the COVID-19 epidemic. Aeromexico has faced competition from rising names such…