Chile's Latam Airlines Group Hires PJT Partners to Restructure Debt

Chile’s Latam Airlines Group SA has hired U.S. investment boutique PJT Partners to explore debt restructuring options that may include bankruptcy protection filings in three countries, Brazilian newspaper O Estado de S. Paulo reported late on Monday, Reuters reported. According to the paper, which cites sources with knowledge of the matter, Latam is considering filing for Chapter 11 in the U.S. and equivalent bankruptcy protection in Chile and Brazil, where are the company’s largest operations. In a statement to Reuters, Latam said it “does not comment on speculation” and that if it had something to report, it would do through official channels with regulators. PJT Partners did not immediately reply to a request for comment late on Monday. LATAM was downgraded by S&P and Fitch on Friday after the company confirmed it did not pay interest and principal on three tranches of 2015 $1 billion enhanced equipment trust certificates (EETC). Read more

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