Moderna Surges After Saying Omicron Vaccine Ready Early 2022

Moderna Surges After Saying Omicron Vaccine Ready Early 2022

Reuters

LATAM Airlines shares plummet 85% after restructuring plan revealed

Shares of LATAM Airlines, Latin America’s largest air transport group, plunged on the Chilean stock exchange on Monday after an announcement by the indebted carrier over the weekend of a restructuring plan that would dilute shares in the company. On Friday the firm said it had filed a reorganization plan, proposing an $8.19 billion infusion of capital into the group, in a bid to exit its Chapter 11 bankruptcy. Brazilian airline Azul SA on Monday said that it made an offer this month to combine with LATAM Airlines, but said the Chilean-listed firm was over-valued and that it had since decided to focus on its own operations.

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