Latam Airlines Group S.A 6-K, filed Mar 10, 2023
Latam Airlines Group S.A. (LTM)
About this 6-K
Latam Airlines Group S.A filed this 6-K on March 10, 2023.
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
March 2023
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 |
1
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: March 9, 2023 | LATAM AIRLINES GROUP S.A. | |
| By: | /s/ Ramiro Alfonsín | |
| Name: | Ramiro Alfonsín | |
| Title: | CFO | |
2
Exhibit 99.1
MATERIAL FACT
LATAM AIRLINES GROUP S.A.
Issuer of securities registered in the Securities Registry
Santiago, March 9, 2023
Mrs.
Solange Berstein Jauregui
President
Financial Market Commission
Av. Libertador Bernardo O'Higgins 1449
Santiago
Ref.: Communicates MATERIAL FACT
__________________________
Dear sirs:
In accordance with the provisions of Article 9 and the second paragraph of Article 10 of Law No. 18,045, and the provisions of General Regulation No. 30, duly authorized by the Board of Directors in a meeting held on this same date, I inform as a MATERIAL FACT of LATAM Airlines Group S.A. ("LATAM"or the "Company"), to the Financial Market Commission, as follows:
As of today, the LATAM Board of Directors in an extraordinary meeting approved the Annual Financial Statements corresponding to the year ended December 31, 2022, which reported a profit for the year of US$ 1,339,210,295. On the other hand, the Company has accumulated losses from previous years in the amount of US$ 8,841,105,611 which are due to negative results due to the impact of the COVID-19 pandemic on our business operations from 2020 to 2022. In view of the foregoing, the profits for the year ended December 31, 2022, must be used firstly to absorb said losses. After giving effect to this transaction, LATAM has net losses of US$ 7,501,895,316 as December 31, 2022. Given the above, it does not correspond for dividends to be distributed regarding the year ended December 31, 2022.
In this same meeting, the Board of Directors agreed to recommend to the shareholders to decrease the share capital by the amount of US$ 7,501,895,316 by absorbing the total accumulated net losses indicated in the preceding paragraph. For such purposes, in the coming days the Board of Directors is contemplating calling an extraordinary shareholders' meeting to rule on this matter.
Regards,
Ramiro Alfonsín B.
Finance Vice President
LATAM Airlines Group S.A.