|Bid||0.0000 x 4000|
|Ask||0.0000 x 2900|
|Day's range||2.6700 - 3.5000|
|52-week range||0.6000 - 12.1550|
|Beta (5Y monthly)||N/A|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||N/A (N/A)|
|1y target est||6.72|
A U.S. bankruptcy judge on Thursday rejected a $2.4 billion financing plan for struggling LATAM Airlines <LTM.SN> on the grounds that a convertible loan included as part of the package would amount to "improper" treatment of other shareholders. The move is a setback for LATAM, which needs short-term liquidity. The proposal supported by LATAM was composed of a $1.3 billion loan from asset management firm Oaktree Capital Management and a $900 million convertible loan from several key LATAM shareholders, including the Cueto family that controls the airline and Qatar Airways.
LATAM Airlines, South America's largest carrier, on Tuesday said it had laid off 12,600 employees since March - or almost 30% of its pre-coronavirus workforce - due to the pandemic that has upended the global travel industry. The carrier went from employing almost 43,000 people across Latin America and the United States to 29,957 as of Tuesday, the company said. LATAM reported a net loss of $890 million for the second quarter, slammed by the pandemic that drove the company into a Chapter 11 bankruptcy filing in May.
LATAM Airlines will fire "at least" 2,700 workers in Brazil, including pilots, its Brazilian arm said on Saturday, as the bankrupt carrier struggles to cut costs and cope with an industry collapse due to the COVID-19 pandemic. In a statement, LATAM Brasil said it opened a voluntary redundancy process on Friday which will run through Aug. 4, after which a further minimum 2,700 jobs will be cut. The announcement followed the breakdown in talks with the SNA union over workers' pay, the statement said.