US Court approves extension of the exclusivity period for the presentation of the LATAM Reorganization Plan until 15 October 20211

Source: LATAM

This morning the judge of the Court of the Southern District of New York approved the request for an extension of the exclusivity period to present the LATAM Reorganization Plan until October 15, 2021. As previously reported, such request, filed on September 9, is an alternative contemplated within the process.

It should be remembered that LATAM Airlines Group and its subsidiaries in Chile, Colombia, Ecuador, the United States, Peru and Brazil voluntarily filed for Chapter 11 in May 2020, after the serious consequences of the COVID-19 pandemic. Through this process, the subsidiaries will be able to resize their operations and adapt them to the new demand environment and reorganize their financial balance sheets, allowing them to re-emerge as a more agile, efficient and sustainable businesses for a new post-pandemic stage.