June 18, 2020 / 5:28 PM / 15 days ago

LATAM Airlines says operations to plunge 50% by year´s end

SANTIAGO (Reuters) - LATAM Airlines Chief Executive Roberto Alvo said on Thursday he expects the region´s largest carrier to be operating at half of pre-pandemic levels by the end of 2020, and that a full recovery was unlikely for at least 3-4 years.

LATAM filed for U.S. bankruptcy protection last month, aiming to restructure $18 billion in debt. It was the world’s largest airline to date to seek an emergency reorganization due to the coronavirus pandemic.

Alvo said the company plans to file a $2 billion plan with the U.S. bankruptcy court in the coming days to address the crisis.

Reporting by Fabian Cambero, writing by Dave Sherwood

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