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A LATAM Brasil A320 landing in São Paulo/Congonhas Airport. (Photo: AirlineGeeks | João Machado)

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 is complemented by a Restructuring Support Agreement entered into with the Ad Hoc Group of Parent Creditors — which is the largest group of unsecured creditors in these Chapter 11…

EL AL Seeks $400 million From Israeli Government

Israeli flag carrier El Al, which has been crippled by the COVID-19 pandemic, is seeking state-guaranteed bank loans of up to $400 million after finding itself in a serious cash flow crisis leading to a halt in its passenger operations. The company has already taken various measures to tackle the…

American Finds Cash Cushion Amid Coronavirus Pandemic

American Airlines has announced that, with government aid, it has enough liquidity to survive the travel drop-off associated with the Coronavirus pandemic. American reported its Q1 results a bit over a week ago and it revealed its current liquidity status as well as its current cash flow position. The airline…