WASHINGTON (dpa-AFX) - Bankrupt LATAM Airlines Group on Wednesday announced its decision to cease operations of its Argentina subsidiary indefinitely.
LATAM Airlines Argentina said it ceased its operations for an indefinite period due to current local industry conditions, exacerbated by the COVID-19 pandemic, which has left the sustainability of the project unviable.
'This is regrettable but inevitable news. Today, LATAM must focus on transforming the group to adapt to post-COVID-19 aviation,' said Roberto Alvo, CEO of LATAM Airlines Group. 'Argentina has always been a fundamental country for the group and will remain so, with LATAM's other affiliates continuing to connect passengers from Argentina with Latin America and the world.'
LATAM Airlines Argentina will cease flights to/from 12 domestic destinations while international destinations in the United States, Brazil, Chile and Peru will continue to be served by other LATAM affiliates, once COVID-19-related travel restrictions are lifted by the authorities.
LATAM Airlines on May 26 filed for Chapter 11 bankruptcy protection in the United States, citing a sharp decline demand and financial pressures caused by COVID-19 pandemic.
The airline will continues flying, paying its employees, meeting benefit obligations, and paying critical suppliers. LATAM also honors LATAM Pass miles and flight reservations.
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