LATAM Airlines Group SA
LATAM Airlines Group SA
04/04/2024 | Press release | Distributed by Public on 04/04/2024 06:35
LATAM Airlines Group begins process to reopen and relist on the New York Stock Exchange
Santiago, April 3, 2024 - Through a material fact, sent to the Comisión para el Mercado Financiero (Financial Market Commission), LATAM Airlines Group informed that the Board of Directors approved the initiation of the process to reopen and relist the ADRs on the New York Stock Exchange (NYSE). This process involves several procedures and requirements with regard to the Securities and Exchange Commission of the United States of America and the New York Stock Exchange.
Once the aforementioned requirements have been met, the Board of Directors will decide whether or not to approve and make effective LATAM's relisting on the NYSE, which will be duly informed by means of a new material fact.
This decision will be adopted once the consent of those who were the main backstop creditors of the reorganization plan of the company that was approved and confirmed in its reorganization proceeding under Chapter 11 of the U.S. Bankruptcy Code, and without whom LATAM Airlines Group would not have emerged from such reorganization proceeding, has been obtained; and in accordance with market conditions and the best interest of the Company.
The process to finalize the relisting of the ADR program can take up to six months from now. LATAM Airlines Group will keep its shareholders and the market generally informed of the progress of the ADR program relisting process.
ABOUT LATAM GROUP
LATAM Airlines Group S.A. and its subsidiaries are the leading airline group in Latin America, with presence in five domestic markets in the region: Brazil, Chile, Colombia, Ecuador and Peru, in addition to international operations within Latin America and to Europe, Oceania, Africa, the United States and the Caribbean.
The group has a fleet of Boeing 767, 777, 787, Airbus A321, A321neo A320, A320neo and A319 aircraft. LATAM Cargo Chile, LATAM Cargo Colombia and LATAM Cargo Brazil are the LATAM group's cargo subsidiaries. In addition to having access to the bellies of the passenger affiliates' aircraft, they have a fleet of 20 freighters. These cargo subsidiaries have access to the group's passenger aircraft, and operate within the LATAM group network, as well as on exclusive international routes for cargo transportation. In addition, they offer a modern infrastructure and a wide variety of services and support options to meet the needs of its customers.
More financial information at www.latamairlinesgroup.net