LATAM obtains US Court approval for reorganization plan and secures exit financing

LATAM Group announced that its total operating revenues reached $2.23 billion in the second quarter of the year. The airline also revealed it has gained US Court and shareholder approval for its reorganization plan and secured exit funding.

In the latest financial update, which the airline released on August 9, 2022, LATAM Group reported total operating revenues of $2.23 billion, a more than 150% increase compared to the previous year.

Despite the challenges presented by the sharp increase in fuel price during the three-month period, the group’s consolidated capacity during the quarter was around 72.6% of 2019 levels, the airline said. This figure has more than doubled when compared to the same quarter in 2021, growing by 135.2%.

“These figures are mainly a result of strong domestic markets, especially in Brazil, Colombia, and Ecuador, where the domestic affiliates have already surpassed 2019 levels in capacity, in addition to a marked recovery of the international operations during the current year,” the airline said in the financial report.