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LATAM Airlines shareholders approve reorganization plan
Shareholders of LATAM Airlines, Latin America’s largest air transport group, approved Tuesday a bankruptcy reorganization plan, following last month’s approval by the U.S. bankruptcy court for the southern district of New York. The plan will inject about $8 billion through a combination of capital increase, issue of convertible bonds, and new debt. “Beyond being a requirement to exit Chapter 11, the plan is our strategy to ensure LATAM’s operational continuity and long-term sustainability,” said the company’s CEO, Roberto Alvo, during the meeting.