Judge Denies Latam Airlines $2.45 Billion Credit.
U.S. Bankruptcy Judge James Garrity Jr. blocked Latam Airlines Group from accessing as much as $2.45 billion of proposed bankruptcy financing, by Bloomberg.
See also: Airlines are reinventing themselves in Brazil after the crisis that left them on the ground.
The credit agreement didn’t to conform with bankruptcy rules, according to a Thursday ruling by Garrity. More than $1 billion of the financing was set to come from Oaktree Capital Management and at least $900 million from Qatar Airways as well as Chile’s Cueto family, two major Latam shareholders.
Related Topics
Airbus Nears Landmark Widebody Order from Scandinavian Airlines
JetSMART Named “Airline with the Lowest Emissions in Latin America,” Cirium Say
Brazil’s Azul to Adjust Capacity and Reduce Frequencies Amid Fuel Price Shock
Avianca Seeks to Connect Medellin and Caracas, While United Airlines Bets on Cartagena Flights from Houston and Washington, D.C.
Líder en noticias de aviación