Bankruptcy

The filing highlights the financial weakness of South America's carriers, following a similar bankruptcy earlier this month by the region's second largest airline, Avianca.

But unlike Avianca, which experienced management turmoil and losses, Chile's LATAM posted profits for the last four consecutive years totaling more than US$700 million. LATAM had also approved a dividend payment this year, in contrast to other carriers that have halted payouts.

In a statement on Monday, USA Rugby said the impact of COVID-19 has accelerated existing financial issues after voting to file for chapter 11 bankruptcy.

USA Rugby suspended sanctioned competition and rugby activities indefinitely on March 20 due to the coronavirus crisis.

The American union will undergo a restructuring process with input from World Rugby, while the United States' men's and women's senior national teams will continue to compete as normal when the sport returns.