Cleary Gottlieb Steen & Hamilton is representing LATAM Airlines Group and its affiliates in Chile, Colombia, Ecuador, Peru and the United States in a voluntary reorganization and restructuring of debt under Chapter 11 protection in the U.S. that initiated Tuesday.
Airlines around the globe are struggling to stay in business as the COVID-19 pandemic shrinks travel. Cleary said the restructuring of LATAM under Chapter 11 protection will provide the company with the opportunity to “resize” operations to adjust to a new environment and changed demand while reorganizing its balance sheets.
