Sad but somewhat expected given the current status of affairs, specially since the Chilean government wasn't willing to give them a bailout. Harsh for the employees too, since they have been enduring a 50% cut in their paychecks and a lot of uncertainty with a couple of waves of layoffs.
Interestingly Argentina, the lowest performer, is not among the countries in this filling. Also I wonder if this is going to change the milestones set for the joint venture with Delta.
As Avianca also filed for bankruptcy, anything can happen in the LatAm industry now. Is Copa going to stay strong in this crisis and stay as the leader in the region? Or maybe the low-cost carriers like Sky and Jetsmart are going to get a bigger share?