Latam Airlines Group SA (LFL) Key Developments | Reuters.com
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Latam Airlines Group SA (LFL)

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Latest Key Developments (Source: Significant Developments)

LATAM Airlines Group SA - Brazil airline workers agree to partial strike on Wednesday - Reuters
Friday, 29 Jan 2016 03:24pm EST 

LATAM Airlines Group SA:Airline unions in Brazil agreed to hold a two-hour strike on Wednesday morning to protest for more pay, the National Federation of Aviation Workers (Fentac) said on Friday - RTRS.The strike is set to take place between 6 a.m. and 8 a.m. local time (0800-1000 GMT) and will impact airports across Brazil including Sao Paulo, Rio de Janeiro and Brasilia - RTRS.Unions earlier this week rejected an offer from airlines to increase pay by 11 percent. - RTRS.  Full Article

LATAM Airlines Group SA - Chile threatened by airport strike ahead of holidays - Reuters
Monday, 14 Dec 2015 10:21am EST 

LATAM Airlines Group SA:Workers tied to Chile's civil aviation authority announced a 48-hour strike for Thursday and Friday this week, potentially causing airport chaos just as the country gears up for the Christmas holidays. - RTRS.In September, a 24-hour strike stranded thousands of passengers and led to long lines at airports, after a majority of workers affiliated with the DGAC, or civil aviation authority, went on strike to demand improved benefits and working conditions - RTRS.After two months of negotiations, DGAC workers, which includes air traffic controllers, said on Monday that they had rejected the government's proposal for a state subsidy to improve their pensions. - RTRS.The DGAC said dialogue with workers was ongoing, but that services would be disrupted if the strike goes ahead - RTRS.Chile's flagship airline LAN, part of LATAM Airlines LAN.SN, which suffered dozens of canceled flights during the September work stoppage, said it was awaiting more information from the government to decide on measures it could take to mitigate the impact of the strike - RTRS.  Full Article

LATAM Airlines Group SA announces pricing of offering of senior unsecured notes
Friday, 5 Jun 2015 08:00am EDT 

LATAM Airlines Group SA:Priced its previously said offering of $500,000,000 aggregate principal amount of 7.250% senior unsecured notes.Notes will mature on June 9, 2020.Interest on notes will be paid on each June 9 and Dec. 9, commencing on Dec. 9.  Full Article

LATAM Airlines Group SA launches private offering of EETC to finance new aircraft deliveries
Friday, 15 May 2015 09:09am EDT 

LATAM Airlines Group SA:Announces that it has priced its private offering of two tranches of enhanced equipment trust certificates ("EETC") which has been upsized to an aggregate face amount of $1,020,823,000 to finance new aircraft deliveries.Private offering is comprised of class A certificates and class B certificates.Class A certificates will have an interest rate of is 4.20 percent per annum with a final expected distribution date of Nov. 15, 2027 and the class B certificates will have an interest rate of 4.50 percent per annum with a final expected distribution date of Nov. 15, 2023.Citigroup Global Markets Inc. is the sole structuring agent, global coordinator and lead book-runner for the Certificates and Deutsche Bank, JP Morgan and Natixis are joint book-runners.The proceeds from the certificates will ultimately be used to finance the acquisition of eleven new Airbus A321-200 aircraft, two new Airbus A350-900 aircraft and four new Boeing 787-9 aircraft, which are currently scheduled for delivery between July 2015 and March 2016.  Full Article

LATAM Airlines Group SA announces plans to develop a new hub in the Northeast of Brazil
Friday, 17 Apr 2015 08:51am EDT 

LATAM Airlines Group SA:Announces it has started feasibility studies to develop the first international and domestic hub in the Northeast of Brazil.The Company has begun studies to assess the feasibility of building and operating a hub in Brazil's Northeast region, considering three possible cities: Fortaleza, Natal and Recife and objective is to expand LATAM’s operations between Europe and South America.  Full Article

BMW, Bosch join Deutsche Bahn in airline cartel damages claim against LATAM Airlines Group SA's LAN and others - Reuters
Saturday, 31 Jan 2015 10:34am EST 

LATAM Airlines Group SA:BMW and Bosch said on Jan. 31 they would join Deutsche Bahn in two claims for about 2.1 bln euros ($2.4 bln) in damages from air freight carriers who were involved in a cartel - Reuters.The air cargo cartel, which included Lufthansa and British Airways, was first discovered seven years ago and triggered fines in the European Union and in the United States.Confirming a report in German magazine WirtschaftsWoche, spokespeople for BMW and Bosch said the companies had joined the lawsuits, announced by Deutsche Bahn in December.The magazine also reported that Continental, Kuehne + Nagel and Panalpina were seeking damages from the cartel members.Deutsche Bahn says its freight business Schenker was overcharged for air cargo services for more than six years as carriers colluded in setting fuel and security surcharges.The firm is seeking 1.2 bln euros in damages plus 560 mln euros in interest in a suit filed with a court in Cologne, plus another $370 mln in the United States.The airlines it is suing in Germany are Lufthansa, Air Canada, British Airways, Cargolux, Cathay Pacific, Japan Airlines, LAN, Qantas, SAS and Singapore Airlines.In the United States, it is seeking damages from Air France, All Nippon Airways, Cargolux, KLM, Martinair, Qantas and SAS.  Full Article

LATAM Airlines joins Venezuela airline exodus

SANTIAGO LATAM Airlines on Monday became the latest carrier to suspend its operations in Venezuela, blaming "the current complex economic scenario in the region."