LATAM Airlines Group says it will begin the process of relisting American Depositary Receipts (ADRs) on the New York Stock Exchange (NYSE) following a four-year hiatus which began in June 2020.

An ADR is a security that represents shares of non-US companies that are held by a US depositary bank outside the United States and which allows US investors to invest in said foreign firms while giving them easier access to US capital markets.

The LATAM Airlines (LA, Santiago de Chile) parent told Chile's financial market regulator (Comisión para el Mercado Financiero - CMF) its board will decide whether or not to approve and make effective the company’s relisting on the NYSE once all criteria have been met which includes consent from its main creditors, who supported the company's reorganisation plan during its Chapter 11 process. Market conditions will also have to be suitable and the listing should also be found to be in the group's best interests. The process of finalising the relisting can take up to six months, LATAM warned.

LATAM shareholders that supported its Chapter 11 filing included Delta Air Lines, Qatar Airways, the Cueto Group, while creditors included the Evercore group and certain local bond holders.