Latam Airlines Group SA (LFLy.BE)
Latest Key Developments (Source: Significant Developments)
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: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: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
SANTIAGO, May 15 LATAM Airlines, Latin America's largest airline, reported a slightly smaller profit than expected in the first quarter as local currency appreciation and inflation raised costs, the company reported on Monday.