Aeromexico gets an extension for its Chapter 11 reorganization plan filing


Don’t miss the latest aviation news from Latin America and Spain in our newly Aviacionline English Feed at Twitter and Telegram . You may also follow us in LinkedIn, Instagram and Facebook for our broader coverage in Spanish.

Grupo Aeromexico informed that the U.S. Bankruptcy Court for the Southern District of New York, which is presiding over Aeromexico’s voluntary Chapter 11 financial restructuring process, granted the Company’s request to extend the plan exclusivity periods.

As of this decision, the exclusivity period for filing a chapter 11 plan now expires on October 8, 2021, subject to a further extension ordered by the Court.

On September 10, 2021, the Company delivered to its DIP (Debtor In Possession) creditors the final valuation materials and the refinancing qualification certificate pursuant to the DIP Credit Agreement. Pursuant to such Agreement the Tranche 2 DIP Lenders were required to notify the Company no later than 10 days after delivery of the Final Valuation Materials (i.e., on or before September 20, 2021) of their election to convert their loans into equity of the reorganized Company at the value set forth in the Final Valuation Materials (the «Election Subscription Notice»).

Apollo, one of the DIP Lenders, filed a reservation of rights in the Court file in which it took the position that the Final Valuation Materials delivered by the Company did not comply with the requirements of the DIP Credit Agreement and, accordingly, delivery of the Final Valuation Materials, in its opinion, has not occurred. As set forth in the reservation of rights, Apollo’s view is that it is not yet obliged to send the Notice of Election Subscription.

The Company maintains its position that the Final Valuation Materials have been delivered as required under the DIP Credit Agreement. This position is supported by the Unsecured Creditors Committee, organized groups of Aeromexico’s creditors and other DIP lenders. Aeromexico intends to file a Plan of Reorganization consistent with the Final Valuation Materials delivered on or about September 30, 2021, but in any event no later than October 8, 2021.

Aeromexico will continue to carry out, in an orderly manner, its voluntary financial restructuring through Chapter 11, while continuing to operate and provide services to its customers and contracting with its suppliers for goods and services required for operations. 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.


Pablo Díaz (diazpez)
Director Editorial de 40 años. Argentino. Casado. Profesional de IT por elección, Aeronáutico por vocación. Casi piloto. Casi Spotter. Casi Ingeniero. Viajero ocasional, nerd frecuente.

Deja un comentario

Latest News

SKY Airline Perú resumes flights to Cancun

This Monday (25), the first SKY Airline Peru flight to Cancun departed from Jorge Chavez Airport. The Peruvian company...

What’s the best website among Europe’s low-cost airlines?

Repeatedly I’ve said here, there, and everywhere that one of my favorite things about living in Europe is being...

Philippines approves budget for purchase of 5 C-130J Super Hercules

The Philippine Air Force (PAF) is set to acquire five Lockheed Martin C-130Js to increase its military transport capability,...

Market recovers post-pandemic, but pace of aircraft deliveries could be a problem

Carsten Spohr, Chief Executive Officer of Lufthansa, noted that the recovery in business travel is developing at a faster...
- Advertisement -

Complex outlook for Cubana in the domestic market due to lack of fleet maintenance

Cubana de Aviación must suspend domestic flights due to the condition of its narrow-body aircraft. This occurs, however, three...

JetSMART cancels flights to Rosario

Next October the 29th will be JetSMART Argentina's last flight between Rosario and Neuquén. Both cities are connected twice...

You May Also LikeCheck It Out!
Recommended For You