LATAM Airlines, the biggest carrier in Latin America, said it plans to conclude its exit from bankruptcy on Nov. 3. "This process will allow the group to emerge more agile, with a more competitive cost structure, adequate liquidity to face the future, with approximately $10.3 billion in equity, and close to $6.9b in debt," the company said late on Friday. LATAM filed for Chapter 11 in 2020 after airline travel was hammered during the pandemic, and it won court approval that June. The reorganization plan would inject about $8b into the airline through a combination of capital increase, issue of convertible bonds and new debt.<br/>
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Latin America’s airlines likely face two more years to return to “total normality,” Roberto Alvo, the CEO of the region’s largest carrier, Latam Airlines, warned Sunday. “The pressures that the industry has to bear … has not yet fully recovered and that means the industry has not yet left this major crisis behind,” he said at the ALTA Airline Leaders Forum in Buenos Aires. Those pressures include a strong US dollar, high fuel costs, and the continued lack of any state financial support from the region’s governments. With that in mind, plus the financial toll many Latin American airlines suffered during the pandemic, Alvo expects “total normality” for the industry by the end of 2024. Alvo’s comments come on the eve of the annual general meeting of the regional airline trade association, ALTA. The CEOs of many of Latin America’s major airlines, including Aeromexico, Avianca, Azul, and Gol, are expected to share their views on the recovery and outlook at the event. Alvo is president of the ALTA executive committee. Normality, however, does not mean travelers won’t return sooner. In fact, Alvo forecast a full recovery in terms of airline passenger traffic by the end of next year. That is a little later than the outlook for his airline; Latam expects a full traffic recovery by around the middle of 2023. “We are at a period of strong recovery of [the] industry,” Alvo said. Air travel in some countries, including Colombia, the Dominican Republic, and Mexico, is already above pre-pandemic levels, with others in the region rapidly catching up.<br/>
Lufthansa's budget division Eurowings said on Sunday that more than half of its passengers will reach their planned destinations despite a pilots strike planned for this week. For Monday, the first day of the three-day strike, more than 230 of the some 400 planned Eurowings flights will take place, the airline said. More than half of flights will also take place on Tuesday and Wednesday, Eurowings said.<br/>
Spanish soccer club Real Madrid has renewed a sponsorship deal with the airline Emirates until 2026, the team said on Friday. While the parties did not disclose financial details, Spanish sports newspaper Marca reported the contract's value at about E70m per year plus variables. The United Arab Emirates flag carrier's logo has been emblazoned on the jerseys worn by Real Madrid players since 2013. Emirates first became Real Madrid's global sponsor in 2011. Since then, the Spanish club has won 22 titles, including five coveted UEFA Champions League cups. Jersey sponsorships are crucial for popular teams with high shirt sales like Real Madrid, as they expose the brands' logos to millions of viewers across the globe.<br/>
Singaporean low-cost carrier Scoot has become the first Southeast Asian airline to fly a "Pikachu Jet" to stimulate demand to recover from the COVID-19 pandemic. The subsidiary of Singapore Airlines also aims to attract demand with ticket giveaways and the opening of new routes. As China keeps in place its strict zero-COVID policy that has effectively banned cross-border travel, Scoot is pinning its hopes on Japan and Taiwan, which have decided to scrap travel restrictions. In early September, a Boeing 787 whose hull is decorated with illustrations of the popular Pokemon character Pikachu carrying rainbow-colored balloons, as well as Lapras and other characters from the Japanese media franchise, took off from Singapore's Changi Airport. "Strategic partnership between Scoot and the Pokemon company is one year in the making. It is very timely to announce it because borders have started to reopen and it is time to reignite the passion for travel," Scoot CEO Leslie Thng told media when the Pikachu Jet was unveiled. On special Pokemon-themed flights, Pikachu can be found everywhere, from overhead bins to packaging of in-flight meals. Cabin crew play games and perform an original Pokemon dance to entertain passengers. The jet debuted for Scoot on a round trip between Changi and Narita, followed by a flight to Incheon near Seoul. Scoot initially planned to fly the jet on two return flights a month, but it announced on Oct. 3 that it will add Taipei from November because the jet has proved popular with passengers. The aircraft is being used for other flights as well. The carrier has teamed up with The Pokemon Co., which manages the Pokemon brand and is an equity method affiliate of Japanese game maker Nintendo, in a corporate social responsibility initiative aimed at reviving the airline and tourism industries. The Pokemon Company has shouldered the expense of wrapping the jet with its new decorations, said to have cost about 100 million yen ($688,000). Scoot's expenses are limited to promotion, marketing and in-flight services, making the collaboration financially attractive for the budget airline. Story has more.<br/>