Latin America's largest airline, LATAM, files for Chapter 11 bankruptcy

LATAM Airlines Group, the largest air carrier in Latin America, filed for Chapter 11 bankruptcy on Tuesday, according to a statement released on its website

Atlanta .

Reservations, employee pay, flight vouchers as well as passenger and cargo operations will not be affected, according to the statement."The U.S. Chapter 11 financial reorganization process provides a clear and guided opportunity to work with our creditors and other stakeholders to reduce our debt, address commercial challenges that we, like others in our industry, are facing as a group," the company said.

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