(TELESUR) – Over 1,700 employees work at the firm’s Argentine subsidiary.
In a press release the company said that the decision was taken because “because with the current conditions of the local industry, aggravated by the Covid-19 pandemic, a sustainable projected is not considered viable.”
On May 26 the Chilean-Brazilian airline filed for bankruptcy protection in a New York court, as South American countries have retained the border closures to contain the coronavirus pandemic.
The Argentine subsidiary has been in operation for 15 years but its 12 domestic routes have been shut down by the virus, while four international destinations are operated by other LATAM subsidiaries. Both passenger and cargo flights would be halted, the company said.