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Lenders make Latam’s life easier on the way out of the reorganization process

Photo by Carlos R (provided)


LATAM Airlines Group, together with its affiliates in Brazil, Chile, Colombia, Ecuador, Peru and the United States, today released the results of the vote on its Plan of Reorganization, which achieved sufficient support of ~82% in dollars and ~65 % of the number of eligible voters from the classes affected by the Plan. These results do not include RCF credit holders, who still have until May 10, 2022 to vote.

In recent months, LATAM has continued to engage in extensive negotiations and a mediation process, and has worked hard to resolve any doubts that have arisen regarding the Plan. LATAM remains confident that the Plan is fair and considers all stakeholders.

If confirmed, the Plan will inject new resources into the group through a combination of equity, convertible bonds and debt, and will strengthen its balance sheet, liquidity and capital structure for future operations.

As previously announced, the confirmation hearing is scheduled for May 17 and 18, 2022, when the Court will evaluate the Plan, the last milestone in the process in the United States. LATAM maintains the objective of completing the process and exiting Chapter 11 in the second half of 2022.

The Plan, Disclosure Statement and other relevant materials can be consulted on the following website: https://cases.ra.kroll.com/LATAM/

With information from Latam


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