Chile's Latam Airlines Group SA has hired U.S. investment boutique PJT Partners to explore debt restructuring options that may include bankruptcy protection filings in three countries, Brazilian newspaper O Estado de S. Paulo reported late on Monday.
FILE PHOTO: LATAM airlines logo, is seen inside of the Commodore Arturo Merino Benitez International Airport in Santiago, Chile April 25, 2019. REUTERS/Rodrigo Garrido
According to the paper, which cites sources with knowledge of the matter, Latam is considering filing for Chapter 11 in the U.S. and equivalent bankruptcy protection in Chile and Brazil, where are the company’s largest operations. Now the company has 15 days to resolve the payment or it can be declared in default by creditors according to cross default clauses.
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