Latam Airlines shareholders channel Hertz in bankruptcy rebound

Noting that LATAM Airlines’ bankruptcy “is Hertz five months ago,” and equity holders stand to recover value, Andrew Glenn discussed with Bloomberg how LATAM’s Chapter 11 case is eerily familiar to that of Hertz.

Andrew told the publication that when applying a “reasonable multiple” to LATAM’s 2019 financial numbers, “there are billions in equity value at play. After a long period of uncertainty, everybody sees that recovery.”

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The Glenn Agre team representing the ad hoc committee of shareholders of LATAM Airlines includes Andrew Glenn, Shai Schmidt, Rich Ramirez, and Naznen Rahman.