Latam Airlines secures fifth extension of exclusive plan periods

By Sarah Lizee

Olympia, Wash., Nov. 2 – Latam Airlines Group, SA received a fifth extension of its exclusive periods to file a Chapter 11 plan and solicit votes, according to an order filed Tuesday with U.S. Bankruptcy Court for the Southern District of New York.

Specifically, the court extended the plan filing period through Nov. 26 from Oct. 15 and the solicitation period through Jan. 26 from Dec. 15.

The company said in its motion 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 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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