April 30, 2020 / 4:07 PM / a month ago

LATAM Airlines sees long, slow recovery from coronavirus, defers 90% of investments

SANTIAGO, April 30 (Reuters) - LATAM Airlines, Latin America’s largest, predicts a longer and slower recovery than initially expected following the coronavirus pandemic, forcing it to defer the vast majority of its investments, CEO Roberto Alvo said on Thursday.

The chief executive said in a shareholders meeting that operations would struggle to exceed 70% of pre-crisis levels. He also added the company was negotiating the postponement of the delivery of new planes as it assesses the fallout from the pandemic. (Reporting by Fabian Cambero, writing by Dave Sherwood, editing by Chris Reese)

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