March 09, 21 - 8:30 pm - Reuters

LATAM reports a $962.5 million loss due to coronavirus pandemic

LATAM Airlines, the region’s largest airline, on Tuesday, reported a loss of $962.5 million in the fourth quarter, hurt by a second wave of the pandemic which has hit Latin America particularly hard.

LATAM filed for bankruptcy protection last May and is still going through a court-supervised reorganization in the United States.

LATAM Airbus A320 airplane
Photo: Markus Mainka/Shutterstock

Overall in 2020, the airline lost $4.6 billion, compared with a pre-pandemic profit of $196 million in 2019.

The airline had $1.7 billion in cash and cash equivalents at the end of the year, it said, buffered by significant new debt brought on during the bankruptcy process.