LATAM Airlines Group increased its revolving credit facility to $600 million during the second quarter.
The Chilean carrier added $150 million to the facility, which is secured by aircraft, engines parts and supplies, a quarterly financial statement shows. Lenders include a consortium of 11 banks led by Citi.
Cash and cash equivalents at LATAM decreased by 19% to $1.19 billion during the second quarter. Cash was down 30.4% compared to June 2017.
Liquidity stood at $1.79 billion, including the full $600 million available under the revolver, at the end of June.
Long-term debt decreased 3.6% to $6.12 billion during the second quarter. Debt was down 15.5% from $7.24 billion a year earlier.
LATAM added four aircraft, including three Airbus A330-200s and one Boeing 747-400, on short-term leases from Wamos Air during the second quarter, the filing shows. The A330s are on four-month leases, and the 747 on a three-month lease.
The aircraft were used to temporarily replace Boeing 787s that were taken out of service to address the aircraft's Rolls-Royce Trent 1000 issues.
LATAM also added one Airbus A350-900 on a 12-year operating lease from the Bank of Utah in the second quarter, the filing shows.
The airline returned one Airbus A320 to lessors during the period.
Source: Cirium Dashboard
