Chile's LATAM Airlines files for U.S. Chapter 11 bankruptcy protection

LATAM Airlines Group SA said on Tuesday the company and its affiliates in Chile, Peru, Colombia, Ecuador, and the United States have filed for Chapter 11 bankruptcy protection in the U.S.

Latin America's largest airline said it secured funding from shareholders, including the Cueto and Amaro families, and Qatar Airways, to provide up to $900 million in debtor-in-possession financing.

LATAM Airlines said its affiliates in Argentina, Brazil, and Paraguay were not included in the filing.

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