Aeroméxico Receives Proposal from Creditors

Grupo Aeroméxico announced this Nov. 11, that it has received a joint proposal from its creditors under Tranchee 2 of its DIP financing facility and from various existing creditors and new equity investors, with whom the Mexican Group is prepared to sign the commitment documents once they are approved by the U.S. Bankruptcy Court.

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According to milenio, the businessmen Eduardo Tricio Haro and Valentín Díez Morodo are the leaders of the group of Mexican investors who seek to participate in the restructuring through the purchase of new shares, once they are issued.

Aeroméxico’s current members of the board of directors, Antonio Cosío Pando, and Jorge Esteve Reconlons, are also part of the group of Mexican investors.

The Joint Proposal is supported by Delta Air Lines and provides a viable solution to accomplish the foreign investment requirements, through a long-term Mexican investors solid group.

The Group’s Board of Directors has approved, among others matters, to instruct Aeroméxico’s restructuring advisors, in coordination with the key participants’ advisors in the process, a version modified of the Joint Plan Reorganization and the disclosure statement related to the Plan, including supplements and annexes related to the Plan, reflecting the terms of the Joint Proposal.

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The dates for the hearing to approve the Disclosure Statement and the hearing to confirm the Plan will be scheduled by the Court.

The foregoing represents an extremely important achievement under the Company’s restructuring process.

Aeroméxico will continue to work with all key stakeholders to finalize and submit the Plan documents, obtain Plan approval from the Court, and request the votes in favor of the Plan once the Declaration of Disclosure and exit the Chapter 11 restructuring process.