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News Article

Aeroméxico Updates Restructuration Plan

By Emilio Aristegui | Fri, 12/03/2021 - 11:44

Aeroméxico completed another milestone of its Restructuration Plan under Chapter 11 after Delta Airlines and a group of long-term Mexican investors showed their support for the plan. Now, the airline prepares for a hearing on Dec. 6 on a US Court to continue these procedures.

Grupo Aeroméxico presented an updated version of the Joint Plan of Reorganization under “Tranche 2 of the company’s guaranteed preferential financing (DIP financing facility), from various existing creditors and new equity investors,” reads Aeroméxico’s press release.

The hearing to approve the Disclosure Statement of the Plan is set for Dec. 6. Aeroméxico submitted the Joint Plan of Reorganization on Sep. 21, 2021, to a US court and obtained its approval on Sep. 22, as reported by MB.

“The foregoing represents an extremely important milestone under the restructuring process of the Company. Aeroméxico will continue to work with all key stakeholders to obtain the approval of the Plan by the Court, request the votes in favor of the Plan once the Disclosure Statement is approved and exit the process as soon as possible of the restructuring of Chapter 11.”

The Mexican Pilots Union (ASPA) had shown concerns regarding Aeroméxico’s restructuration plan, reminding the company that Mexican law requires Mexican investors to keep the majority of the airline’s voting shares, as reported by MB.

The data used in this article was sourced from:  
Aeromexico, MB
Emilio Aristegui Emilio Aristegui Junior Journalist and Industry Analyst