Latin America’s largest air carrier Latam Air files for bankruptcy – The National

Latin America’s largest air carrier Latam Air files for bankruptcy – The National

Santiago-based Latam previously serving more than 70 million passengers a year on more than 300 aircraft.. Latam Airlines Group SA, Latin America's largest air carrier, sought bankruptcy court protection in New York after the Covid-19 pandemic grounded flights across the region.. Latam, whose shareholders include Chile's Cueto family and Delta Air Lines, continues to operate on a reduced schedule, and it has commitments for a bankruptcy loan of up to $900 million (Dh3.3 billion).. Airlines the world over -- and those in Latin America in particular -- have been hit hard by the coronavirus outbreak, which triggered travel bans and made people reluctant to fly.. Latam's affiliates in Brazil, Paraguay and Argentina aren't part of the bankruptcy case, which was filed in the Southern District of New York.. Talks are underway with governments in Chile, Brazil, Colombia and Peru about additional financing and assistance, the airline said.. Latam traces its roots to Lan Airlines, founded in Chile in 1929 and privatised in 1989 during the last years of the Pinochet dictatorship.. Last year, Latam signed a $2.25bn pact to sell a stake to Delta Air Lines, expanding Delta's footprint in South America.. The case is Latam Airlines Group SA, 20-11254,