New York, May 26: Latin America's largest airline LATAM filed for bankruptcy in the US on Tuesday, the company said in a statement, following a drastic slump in business caused by the coronavirus pandemic.

"On May 26, 2020, LATAM Airlines Group filed to reorganize under Chapter 11 protection in the United States," the statement said, adding that there would be no immediate impact on passenger or cargo flights. Car Rental Company Hertz Declares Bankruptcy in US and Canada Due to Coronavirus Pandemic.

Last month the Chilean-Brazilian airline said it was scaling back its operations by 95 percent in response to the global health crisis, which has hammered the world's travel and tourism sectors.

(The above story first appeared on LatestLY on May 26, 2020 10:42 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website