Latam Carriers See ‘Bankruptcy Pandemic' Risk, Chile Opposes Bailout

Latin American airlines need prompt government aid or many of them could go out of business as the global coronavirus outbreak forces widespread flight cancellations, the chief of regional airline association ALTA said…However, Chile’s economy minister dismissed the idea of providing aid to the country’s flagship carrier, the largest in the continent, Reuters reported. ALTA Chief Executive Luis Felipe de Oliveira has been sending letters to governments throughout the region about the “unprecedented” coronavirus crisis, he said in a phone interview, adding to the global pressure from airlines seeking bailouts. “If the governments do not take drastic and immediate action there could be a bankruptcy pandemic in the region,” he said. Read more