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LATAM Airlines posts a near $1 billion fourth quarter loss
LATAM Airlines said it lost nearly $1 billion in the fourth quarter of 2020, pushing the region’s largest airline group to an annual loss of $4.6 billion. In contrast it made a profit of $196 million in 2019.
It reported a Q4 loss of $962.5 million and is still going through a court-supervised reorganization in the United States. It filed for bankruptcy protection last year. In a filing it said it had $1.7 billion in cash and cash equivalents as of the end of the year. Still, it is pushing ahead with its Americas joint venture with Delta Air Lines. The JV was approved unconditionally last month by Brazil’s aviation regulator.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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