LATAM Airlines Group is continuing to pursue a joint business agreement with American Airlines (AA, Dallas/Fort Worth) and IAG International Airlines Group but excluding the Chilean business, CMO Roberto Alvo said during the group's quarterly earnings call.

"Now we're working with both American and IAG and looking into how to make operational the JV with the carve-out of the Chilean geography," Alvo said.

He underlined that the JBA excluding Chile would still be interesting for all three parties concerned.

CFO Ramiro Alfonsin underlined that the Latin American group was surprised by a May 2019 Chilean Supreme Court ruling banning the establishment of the JBA. The proposed agreement had been previously okayed by authorities in Brazil, Uruguay, and Colombia, as well as by a lower-instance Chilean competition court.

"We are currently evaluating our next steps to be consistent with the Supreme Court's ruling," Alfonsin added.