May 26, 2020 / 4:22 PM / a month ago

LATAM airline shares plunge 51% following bankruptcy announcement

SANTIAGO (Reuters) - Shares in LATAM Airlines Group SA (LTM.SN) plunged 51% on Santiago´s .SPIPSA stock exchange after the region´s top carrier filed for U.S. bankruptcy protection on Tuesday.

The exchange suspended trading in the company´s shares until mid-day to allow time for investors to assess the bankruptcy announcement. LATAM is the world’s largest airline so far to seek an emergency reorganization amid the coronavirus crisis.

Reporting by Dave Sherwood; Editing by Chizu Nomiyama

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