Aeroméxico to Relist Between 2H23, 2024

Aeroméxico has announced plans to return to the stock market between 2H23 and 2024, while continuing to invest in the acquisition of new aircraft.

The airline has yet to decide whether to list on the New York Stock Exchange (NYSE) or NASDAQ. However, listing in the NYSE “gives you access to financing that is fundamental for a company, particularly an airline. It is best to have as many lines of financing as possible,” said Andrés Conesa, CEO, Aeroméxico during the 47th edition of Tianguis Turístico, a tourism event taking place in Mexico City from March 26-29, 2023.

Aeroméxico shareholders had approved the airline’s exit from the Mexican Stock Exchange last year, following the end of its Chapter 11 bankruptcy proceedings. At the time, shareholders stated that the sale of shares aimed to increase liquidity, which would aid the representative share of Aeroméxico’s capital stock, as reported by MBN. The move is also tied with a US$5 billion investment in renewing the carrier’s fleet.

Mexico’s flagship airline will end 2023 with a historic fleet of 150 aircraft, including 20 long-haul Boeing 787 planes, which make up the fourth-largest fleet of Boeing 737 Max planes in the world, adds Conesa. In addition, Aeroméxico will resume flights to Asia with a daily service to Tokyo, Japan. It will also add a new destination to its global network: the Mexico City-Rome route, which will start with three frequencies a week and increase to five by June 1. “Customers will not only have direct access to the "Eternal City," but they will also be able to make connections to other destinations in Italy such as Milan, Turin, Genoa, Venice, Florence, Naples, Catania and Bologna,” says Aeroméxico.

Aeroméxico plans to operate 500 flights to the EU this summer, a 25% increase from 2019, says Conesa. He also urged legislators not to include cabotage in the General Law of Aviation, as it could put the domestic market at risk and further limit Mexico’s ability to return to the US Federal Aviation Administration’s (FAA) Category 1 status.

Club Premier Transforms to Aeroméxico Rewards

Aeroméxico announced that its Club Premier loyalty program will be transformed into Aeroméxico Rewards, effective from April 10. The revamped program will offer customers a range of benefits, including points that do not expire and lower redemption rates for popular destinations.

Club Premier was the first frequent flier program in Latin America and is one of the most important in Mexico. Founded in 1992 in partnership with various groups, it became an independent operation in 2010 before being fully integrated into Grupo Aeroméxico in 2022. These changes come after Aeroméxico regained full control of its loyalty program last year, with the goal of continuing to build a leading innovative brand in the industry and elevating the customer experience.