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SAFETY AND EXCHANGES COMMISSION
Washington, D.C. 20549
FOREIGN PRIVATE ISSUER REPORT
UNDER RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Board file number 1-14728
LATAM Airlines Group S.A.
(Translation of the holder’s name in English)
President Riesco 5711, 20th floor
(Address of main executive offices)
Indicate with a check mark whether the registrant files or will file annual returns under form 20-F or form 40-F:
Form 20-F ☒ Form 40-F ☐
Indicate with a check mark if the filer is submitting the Form 6-K on paper, as permitted by ST Rule 101(b)(1): ☐
Indicate with a check mark if the filer is submitting the Form 6-K on paper, as permitted by ST Rule 101(b)(7): ☐
LATAM AIRLINES GROUP S.A.
The following exhibit is attached:
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, duly authorized thereto.
|Date: March 21, 2022||LATAM AIRLINES GROUP S.A.|
|By:||/s/ Ramiro Alfonsin|
LATAM makes progress with court and can begin solicitation process
|●||The group’s information statement was approved today after considering that the information provided by LATAM is sufficient to allow its creditors to vote on its reorganization plan.|
|●||This represents an important milestone in the band’s journey out of Chapter 11.|
Santiago, Chile, March 21, 2022 – LATAM Airlines Group SA (“LATAM”) (SSE: LTM) and its subsidiaries in Brazil, Chile, Colombia, Ecuador, Peru and the United States made significant progress today in their chapter proceedings 11 in the United States, after the Court approved the relevance of the Chapter 11 disclosure statement for LATAM. This resolution establishes that the documentation provided by LATAM as part of the process is sufficient to allow the group to begin the solicitation of votes, during which it will seek approval of the Plan from the creditors. The decision comes after LATAM first filed its reorganization plan on November 26, 2021 (the “Plan”).
LATAM will soon begin the process of soliciting votes to approve the plan. The solicitation period will last until May 2, 2022.
The Court also set the confirmation hearing to take place on May 17 and 18, 2022, when the Court will assess the plan of reorganization, the final step in the bankruptcy process in the United States. LATAM continues to anticipate the completion of the process and the emergence of Chapter 11 in the second half of 2022.
This comes after the Court approved the New Amended and Restated Debtor Financing Proposal in LATAM’s possession between LATAM and its creditors on March 15, 2022, allowing LATAM to access $3.7 billion in cash and refinance its existing DIP loan agreement. (Super-senior debtor-in-possession term loan agreement). Additionally, the new loan agreement extends the maturity date in line with the timeline that LATAM is targeting for exit from Chapter 11 proceedings.
Last week, the Court approved LATAM’s support agreement in support of the proposed plan and financing by LATAM and some of its direct and indirect affiliates. These agreements represent approximately $5.4 billion in committed funds.
The plan, disclosure statement and other relevant documents are publicly available at cases.primeclerk.com/LATAM.
About LATAM Airlines Group
LATAM is the main airline group in Latin America with a presence in five domestic markets in the region: Brazil, Chile, Colombia, Ecuador and Peru, in addition to international operations in Latin America and between that here and Europe, the United States and the Caribbean.
The group has a fleet of Boeing 767, 777, 787, Airbus A321, A320, A320neo and A319 aircraft.
LATAM Cargo Chile, LATAM Cargo Colombia and LATAM Cargo Brazil are the cargo airline subsidiaries of the LATAM Group. In addition to having access to the LATAM Group’s passenger cargo holds, they have a fleet of 12 freighters, which will gradually increase to a total of 21 freighters by 2023. They operate on the LATAM Group network as well only on international routes that are only used for shipping. They offer a modern infrastructure with a wide variety of services and protection options to meet all customer freight needs.
Lorena Ampuero, Head of External Communications, LATAM Airlines Group
Rachel Chesley / Ana Heeren, FTI Board
Tori Creighton, Head of Investor Relations, LATAM Airlines Group