Aeromexico files restructuring plan with US bankruptcy court | News


Grupo Aeromexico, the parent company of the incumbent Mexican carrier, has filed a restructuring plan with a US court as it works in bankruptcy proceedings.

The Mexico City-based carrier said on Oct. 2 that filing the plan with New York’s Southern District bankruptcy court was “a key step on the company’s path to getting out of its Chapter 11 process.”

Aeromexico and its Latin American counterparts Avianca and LATAM Airlines declared bankruptcy last year after the rapid spread of the coronavirus severely affected global demand for air travel. Airlines have downsized their networks, pulled and stocked planes, and laid off staff in an attempt to save money.

Now that the rebound of the global health crisis is in full swing, the three airlines hope to complete their reorganizations in the coming months.

“Aeromexico will continue to pursue, in an orderly manner, its voluntary financial restructuring through Chapter 11, while continuing to operate and provide services to its customers and to outsource to its suppliers the goods and services necessary for its operations. “the company said.

“The company will continue to strengthen its financial position and liquidity, protect and preserve its operations and assets, and implement the necessary adjustments to mitigate the effects of Covid-19,” he adds.

The next step in the process for carrier SkyTeam is a hearing, which is scheduled for October 21.


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