Latin America’s largest airline LATAM has today filed for Chapter 11 bankruptcy protection in the US.LATAM airlines along with with its affiliates in Chile, Peru, Colombia, Ecuador, and the US, have applied for the voluntary protection.
The Thai government has confirmed suspicions that Thai Airways is beginning bankruptcy proceedings. On Monday, 18 May, Reuters reported that Thailand plans to take a rehabilitation plan for Thai Airways to the bankruptcy court. A key government panel has backed the undisclosed plan. It is now due for consideration by the Thai cabinet on Tuesday.
The world’s second-oldest airline and the second-largest in Latin America, Avianca, has filed for bankruptcy after failing to meet a bond payment. The airline was forced to announce this bankruptcy due to the wide-ranging effects of the COVID-19 pandemic. The closure of borders and shelter-in-place orders has severely restricted the airline’s operations, leading to significantly
