The largest airline in Latin America has suffered a setback before the judge. A US court has rejected the restructuring plan with which the LATAM management wanted to maneuver the ailing carrier through the crisis.

LATAM is running out of money. The corona crisis is particularly hard on the company's stomach. In order to stop the descent and still fly out of the crisis, those responsible presented a rescue plan. A total of 2,4 billion US dollars will flow into the group. Namely from the company Oaktree Capital Management - in the form of a loan. In addition, the major shareholders of the airline should also participate in how aero.de reported.

Opinions were divided on the latter: according to the airline management's idea, it should be possible to convert the capital injection into shares and thus increase the share of major shareholders - such as Qatar Airways. That would have led to unequal treatment of the other shareholders, the judge now found. Nevertheless, he left open the possibility of submitting further proposals that are also compliant with the rules. The only question that remains is whether LATAM is slowly running out of money and ideas as well.