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LATAM filed for Chapter 11 bankruptcy immediately, a move that gives the service with time to restructure and formulate a plan to pay creditors. The coronavirus outbreak has prompted a steep decline in demand for flights with Hong Kong-based service Cathay Pacific.

It has also requested its floor workers to take a minimal of two weeks unpaid depart per month, or switch to working three days per week between February 17 and Free slots June 30. An airline spokesperson believes the coronavirus will cause weakened travel demand to persist into the summer season and said the provider needed to take action to stay afloat.

Meanwhile, Lufthansa’s supervisory board has voted in approval of a $10-billion bailout which might give the German authorities a 20% stake in the company and two board seats, while obliging the airline to transfer as much as 24 takeoff and landing slots at Frankfurt and free slots online Munich airports to rival carriers.