South America's largest carrier

LATAM becomes largest airline so far to be pushed to bankruptcy by COVID-19

The filing highlights the financial weakness of South America's carriers, following a similar bankruptcy earlier this month by the region's second largest airline, Avianca.

But unlike Avianca, which experienced management turmoil and losses, Chile's LATAM posted profits for the last four consecutive years totaling more than US$700 million. LATAM had also approved a dividend payment this year, in contrast to other carriers that have halted payouts.