UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 6-K

 

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

May 2020

 

Commission File Number 1-14728

 

 

LATAM Airlines Group S.A.

(Translation of Registrant’s Name Into English)

 

 

Presidente Riesco 5711, 20th floor

Las Condes

Santiago, Chile

(Address of principal executive offices)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

 

Form 20-F  ☒            Form 40-F  ☐

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):  ☐

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):  ☐

 

 

 

LATAM AIRLINES GROUP S.A.

 

The following exhibit is attached:

 

EXHIBIT NO.		DESCRIPTION
99.1		Material fact report

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

Date: May 27, 2020	LATAM AIRLINES GROUP S.A.
	By:	/s/ Roberto Alvo M.
	Name:	Roberto Alvo M.
	Title:	Chief Executive Officer of LATAM Airlines Group S.A.

 

 

2

Exhibit 99.1

 

 

MATERIAL FACT

LATAM Airlines Group S.A

SECURITIES REGISTRY N° 306

Santiago, May 26, 2020

Mr.

Joaquín Cortez Huerta

Chairman

Commission for the Financial Market

1449 Av. Libertador Bernardo O´Higgins

Present

Re: Material fact report

 

Dear Chairman:

 

In accordance with the provisions of articles 9 and 10 of Law No. 18,045 on the Securities Market Law, and on the General Rule No. 30, duly authorized by the Board on May 25, 2020, I inform you the following as material facts of LATAM Airlines Group S.A. (“LATAM Airlines” or the “Company”):

 

●

As informed, LATAM Airlines started today a reorganization process in the United States of America according to the rules established in Chapter 11 of Title 11 of the Code of the United States of America, presenting a voluntary petition for relief in accordance with the same (the “Chapter 11 Procedure”).

 

●

The Chapter 11 Procedure grants an automatic stay at the beginning of the process. Said automatic stay protects LATAM Airlines’ cash position while restructures its balance sheet and right-size its operations.

 

●

The cash outflow involved in the dividend payment and agreed in the last Shareholders Meeting of LATAM Airlines is within the cash flows affected by the automatic stay.

 

●

In fact, the rules of the Chapter 11 Procedure prohibit the Company to distribute dividends to its shareholders during the time it is renegotiating its debt to ensure the continuity of its operations and future viability.

 

●

Considering the above, LATAM Airlines will not pay the dividend planned for May 28, 2020.

 

●

To this date it is not possible to determine the moment or source of the mentioned dividend to the Company’s shareholders.

 

Sincerely yours,

 

Roberto Alvo M.

Chief Executive Officer

LATAM Airlines Group S.A.