On June 30th, Grupo Aeromexico S.A.B. de C.V announced that the Group as well as some of its affiliates have filed a voluntary Chapter 11 petition in the United States to implement financial restructuring while the Group’s operations continue.
The company plans to use the Chapter 11 process to strengthen its financial situation and implement the changes needed to address the impact of the ongoing pandemic, as well as to create a sustainable platform for the future.
Aeromexico’s operations will continue. In July the company expects to double the number of its domestic flights and quadruple the number of international flights as compared to June.
“We are committed to taking the necessary measures so that we can operate effectively in this new landscape and be prepared for a successful future,” said Andrés Conesa, Chief Executive Officer of Aeromexico. “The Chapter 11 process will help us obtain new financing and increase our liquidity, and create a sustainable platform to succeed in an uncertain global economy.” The Company remains focused on the health and safety of its employees and customers, and it has implemented enhanced cleaning and sanitization.
Chapter 11
This Chapter 11 process is designed to allow companies to maintain regular operations and all current tickets, reservations, electronic vouchers and Premier Points will remain valid and available for use by customers according to the Company’s existing terms and conditions.
The process will not bring any changes to employees’ day-to-day job responsibilities, and they will continue to be paid and receive benefits in the ordinary course of business. Aeromexico also intends to continue ordering goods and services from its suppliers and expects to meet its agreements with partner airlines, including the strategic partnership with Delta Air Lines.
