Business

LATAM formalizes first tranche of financing before US court for reorganisation

Latam Airlines and some of its subsidiaries formalized before a U.S. court the first tranche of the proposed DIP (Debtor in Possession) financing, as part of the reorganisation process that was prompted by the negative effects of the pandemic in the commercial aviation industry. It corresponds to US$900 million that shareholders Qatar Airways and the Cueto and Amaro families committed when they announced the request for Chapter 11.

Source: EMOL

Categories: Business