|Bid||0.0000 x 4000|
|Ask||0.0000 x 2900|
|Day's range||2.6700 - 3.5000|
|52-week range||0.6000 - 12.1600|
|Beta (5Y monthly)||N/A|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||N/A (N/A)|
|1y target est||6.72|
LATAM Airlines, the largest airline group in Latin America, said Thursday it had secured an additional $1.3 billion for its financing proposal before a New York bankruptcy court, while adding its unit in Brazil to the debt restructuring process. LATAM <LTM.SN> filed for U.S. bankruptcy protection in May, aiming to reorder $18 billion in debt. On Thursday, it said it had secured an additional $1.3 billion in funding from Oaktree Capital Management L.P. and its affiliates, enough to meet the company´s financing requirements amid the crisis.
Aeromexico this week became the third Delta partner to file for bankruptcy due to the coronavirus pandemic, following LATAM Airlines Group and Virgin Australia. In Latin America, Delta spent nearly $3 billion to build up stakes in Aeromexico and LATAM over the past three years.
Bankrupt LATAM Airlines and Avianca Holdings are dramatically retrenching their once grand ambitions amid the COVID-19 pandemic, reducing competition in Latin America as they mull once-unthinkable cooperation with rivals. Since May, LATAM has exited Argentina, partnered with rival Azul SA in Brazil and cut back domestic operations in Chile, while Avianca has departed Peru. LATAM is now open to a deeper alliance with Azul, even as the two airlines usually control a combined 60% of Brazil's domestic market.
LATAM Airlines Chief Executive Roberto Alvo said on Thursday he expects the region´s largest carrier to be operating at half of pre-pandemic levels by the end of 2020, and that a full recovery was unlikely for at least 3-4 years. LATAM filed for U.S. bankruptcy protection last month, aiming to restructure $18 billion in debt.
Backed by improving air-travel demand trends and cost-saving initiatives, both American Airlines (AAL) and Delta Air Lines (DAL) expect to exit this year with zero cash-burn rate.
A group of bondholders of LATAM Airlines Group SA <LTM.SN> is in talks to supply up to $1.5 billion in a debtor-in-possession loan within the Chapter 11 proceeding in the United States, two people with knowledge of the matter said on Thursday. Bondholders including Blackrock Inc <BLK.N>, Australia's Macquarie Group <MQG.AX>, HSBC <HSBA.L> and Chile's Moneda Asset Management, are informally discussing the issue with investment bank Moelis & Co <MC.N>. LATAM, the bondholders and Moelis did not immediately comment on the matter.
A new estimate of the scale of financial losses facing the global airline industry reveals the heavy toll on South American airline stocks, with shares of Brazil's Azul (NYSE: AZUL) airline falling as much as 11.1% today and Sao Paulo's Gol Linhas Aereas Inteligentes (NYSE: GOL) tumbling 13.1%. Both airlines were back up off their lows as of 12:40 p.m. EDT, with Azul down only 5.5% and Gol off 3.6%. Meanwhile, their Chilean rival, LATAM Airlines (NYSE: LTM), was actually up 4.1% after swinging wildly between an 8.3% loss and a 20% profit earlier in the day.
Airline shares are taking flight throughout the Americas on improving optimism that the worst of the COVID-19 pandemic travel slump is now behind us. The U.S. airlines are all up between 5% and 15% apiece on Monday, but those gains pale in comparison to how New York-traded Latin American airlines are trading. Shares of two of Brazil's largest airlines, Azul (NYSE: AZUL) and Gol Linhas Aereas Inteligentes (NYSE: GOL), traded up 20% apiece on Monday, as did shares of bankrupt Latam Airlines Group (NYSE: LTM) of Chile.
Shares of LATAM Airlines Group (NYSE: LTM) soared 22% on Friday morning, before falling back somewhat, on encouraging news about a potential post-COVID-19 travel recovery. LATAM in particular has been hard hit, with the airline filing for bankruptcy protection late last month. If so, that certainly would be good news for the sector in general and for LATAM, too.
With demand for air travel dropping sharply, carriers like American Airlines (AAL) and United Airlines (UAL) are looking to slash their personnel in a cost-cutting bid.
LATAM Airlines' (LTM) Q1 results reflect a goodwill impairment loss of $1.73 billion due to the effects of the coronavirus crisis.
Latin America is slowly reopening for business after lockdowns due to the COVID-19 pandemic, with popular tourist destination Rio de Janeiro in Brazil allowing nonessential businesses including restaurants and shops to return to normal operations. As markets reopen, South American airline stocks that had lost more than half of their value due to the pandemic are feeling rejuvenated as well. Brazilian airlines Azul (NYSE: AZUL) and Gol Linhas Aereas Inteligentes (NYSE: GOL) each traded up more than 16% on Wednesday morning, and Chile's Latam Airlines Group (NYSE: LTM) soared 28% higher.
Shares of LATAM Airlines Group (NYSE: LTM), gutted by a bankruptcy filing last week, surged in Tuesday trading and were up a staggering 55% as of 2:42 p.m. EDT today. In LATAM's home country of Chile, The Santiago Times is reporting that COVID-19 infections are soaring, with 105,000 persons infected and more than 1,100 deaths. Brazil, meanwhile, has the highest incidence of coronavirus infections of any other country, barring only the U.S.
Shares of Brazilian airline Gol Linhas Aereas Inteligentes (NYSE: GOL) popped more than 10% in early trading Monday morning, and remain up a healthy 8.6% as of 11:35 a.m. EDT. With nearly 515,000 reported coronavirus infections and more than 29,000 related deaths, Brazil remains a hot spot for COVID-19.
LATAM Airlines, the largest Latin American air transport group, had losses of $2.12 billion in the first quarter after an accounting adjustment of its assets amid the coronavirus pandemic, the company said in a statement late on Friday. LATAM said its operational quarterly result was 17% higher year-on-year despite the fact that in March it reduced its offer of flights due to the first effects of the health crisis.
The Zacks Analyst Blog Highlights: Hertz Global, Avis Budget Group, LATAM Airlines and Whiting Petroleum
LATAM Airlines Group's <LTM.SN> U.S. bankruptcy filing this week will delay its potential bailout in Brazil to at least July and also push back aid to its rivals at least through the end of June, two sources said on Thursday. The delays will add further strain to Brazil's airlines, which were already in weak shape before the pandemic. Rivals Azul SA <AZUL.N> and Gol Linhas Aereas Inteligentes SA <GOLL4.SA> are also negotiating bailouts.
Latam Airlines Group (NYSE: LTM) stockholders endured a volatile ride on Thursday, with shares of the Latin American airline rallying 10% and falling 14.5% in a single trading session. The airline has more than $10 billion in debt and little revenue coming in because of the pandemic, which has taken a particularly hard toll on South American airlines due to their reliance on cross-border traffic.
LATAM Airlines and Avianca Holdings survived the Great Depression, but just a few weeks of quarantines forced both companies into bankruptcy, marking Latin America as the world's top spot for airline financial ruin. Hopes for a taxpayer rescue in the region are fading fast and the bankruptcies show that even Latin America's two largest carriers are not immune to collapse, even as many airlines in the United States and Europe have received government aid.
The likes of Delta (DAL) and United Airlines (UAL) are looking at ways to promote cleanliness in a bid to encourage passengers to resume flying.