New York/Santiago —  Latam Airlines Group, Latin America’s largest carrier, sought bankruptcy court protection in New York on Tuesday after the Covid-19 pandemic grounded flights across the region.

The chapter 11 petition allows Latam to keep operating while the Chilean carrier works out a plan to pay creditors and turn the business around. Latam, which has shareholders that include Chile’s Cueto family and Delta Air Lines, is operating on a reduced schedule and has commitments for a bankruptcy loan of as much as $900m...

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