LATAM Airlines obtains approval on second try for key $2.45b loan package

LATAM Airlines on Friday said it had obtained approval on its second try of a crucial $2.45 billion bankruptcy loan to take the airline out of Chapter 11 restructuring, after having its first package rejected by a judge last week. The judge rejected the initial plan due to a convertible loan that he concluded was too beneficial to the airline’s current shareholders. The new package was similar, but did not include the convertible loan.<br/>