(C) Reuters. Outbreak of the coronavirus disease (COVID-19) in Santiago
SANTIAGO (Reuters) – LATAM Airlines (OTC:LTMAQ) Group, the region’s largest airline, on Tuesday reported a loss of $962.5 million in the fourth quarter, hurt by a second wave of the pandemic which has hit Latin America particularly hard.
LATAM filed for bankruptcy protection last May and is still going through a court-supervised reorganization in the United States.
Overall in 2020, the airline lost $4.6 billion, compared with a pre-pandemic profit of $196 million in 2019.
The airline had $1.7 billion in cash and cash equivalents at the end of the year, it said, buffered by significant new debt brought on during the bankruptcy process.
LATAM Airlines reports $963 million loss in fourth quarter
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.