James L. Garrity, judge of the Bankruptcy Court for the Southern District of New York, approved Latam Airlines‘ request to postpone until June 30 the deadline for filing its reorganization plan. Last May, the company filed for Chapter 11 debt restructuring after being overwhelmed by the pandemic that caused the biggest crisis in the airline industry, according La Tercera.
See also: LATAM reinforces domestic connectivity in Brazil, Chile, Colombia and Peru.
In September, the airline had asked the court to set a deadline for submitting the proposal until January 29th of this year and for a vote until March 23rd.
Latam Airlines obtained last year the U.S. Bankruptcy Court’s approval of the US$2.45 billion DIP (debtor-in-possession) financing.
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