MADRID, 9 Jun. (EUROPA PRESS) –
Latam Airlines has requested a second disbursement of 500 million dollars (410 million euros) of the DIP credit agreement that the company maintains with its creditors within the framework of its financial restructuring plan, as reported in a statement sent to the Commission of the Financial Market this Wednesday.
Latam has explained that its decision to request these new resources is due to the extension of the health and mobility restrictions imposed by the authorities in the different countries in which it operates, as well as the analyzes carried out by the company’s managers on the future liquidity projection.
The airline has detailed that the funds will be available 10 business days after the disbursement request has been made.
The funds requested come from the DIP loan agreement of 2,450 million dollars (2,008 million euros) that the company signed with its creditors after availing itself of the Bankruptcy Law in the United States due to the impact of the pandemic on its operations.
This is the second disbursement that the company requests, since last October 8 it requested 1,150 million dollars (942 million euros) from said agreement.
The group plans to gradually recover its operations this year, which was strongly affected by the pandemic. However, the company has warned that these forecasts will depend on the measures imposed by the different governments.
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