Latam Airlines mediation has not been successful, mediator says

By Sarah Lizee

Olympia, Wash., Oct. 15 – Latam Airlines Group, SA’s mediation with the official committee of unsecured creditors, Delta Airlines, Inc., Qatar Airways Group, QCSC, the parent informal claimant group and the informal group of Latam creditors has not been successful, according to a mediator report filed Friday with the U.S. Bankruptcy Court for the Southern District of New York.

As previously reported, the company has asked the court to extend the exclusive plan filing period through Nov. 26 from Oct. 15 and the exclusive solicitation period through Jan. 26 from Dec. 15.

Latam Airlines said that in the last few weeks the debtors have engaged with their major stakeholder constituents in discussions and negotiations regarding the terms of potential exit and plan structures.

“The debtors believe that all parties can benefit from further discussion and collaborative work to develop plan and exit financing terms,” the company said in its exclusivity motion.

Latam is a Santiago, Chile-based airline. The company filed bankruptcy on May 25, 2020 under Chapter 11 case number 20-11254.

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