Regulation360 (Might 26, 2020, 11:23 AM EDT) — South American airline LATAM Airways Group SA filed for Chapter 11 safety Tuesday in New York, saying the COVID-19 outbreak had reversed its development development and left it unable to make cost obligations on its $7.1 billion of debt.In its preliminary courtroom filings, LATAM stated the journey restrictions imposed by governments throughout the globe induced its passenger numbers to drop dramatically in March and April and left the airline working simply 4% of its regular routes.”LATAM entered the COVID-19 pandemic as a wholesome and worthwhile airline group, but distinctive circumstances have led to a collapse in international demand and…
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