Aeromexico takes another key step in its reorganization process



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.

Aeromexico takes a step closer to generating an exit from its reorganization process.

Grupo Aeromexico expects to raise a total of US$1.3 billion in order to emerge from U.S. Chapter 11 bankruptcy protection, according to a motion and notice filed with the Bankruptcy Court for the Southern District of New York.

Consequently, investors committed to the recovery, excluding strategic partner Delta Air Lines and Mexican investors, will fund $600 million in new equity (representing 26.9% of all new shares issued), as well as $762.5 million in senior secured notes.

As reported by our media partner Aeroin, this is under an agreement on the terms of an equity commitment letter and debt financing commitment letter entered into between the parties, consisting of Grupo Aeromexico, its main U.S. creditor Apollo Global Management Inc, Delta Air Lines, senior shareholder groups, the unsecured creditors and the Mexican investors.

Further in the proposal, Grupo Aeromexico explained that the revised proposals provided sufficient funds for a successful exit from Chapter 11 and also resolved other important complex issues with broad stakeholder support, which would permit the debtors to continue moving toward a simpler and quicker confirmation of the restructuring plan.

«Quite simply, this is the only viable path ahead for the debtors», the Mexican company said.






Ismael Awad-Risk
Apasionado de la aviación comercial. Casi abogado.

Deja un comentario

Latest News

Azul Linhas Aereas resumes flights to Orlando

After over a year with the route suspended due to restrictions imposed by Covid-19, Azul resumed operations to Orlando,...

LATAM Colombia closes the year with five new routes

LATAM Group has been investing heavily this 2021 in its Colombian subsidiary, inaugurating several domestic routes, which allowed it...

Canadian CF-18 replacement: F-35 and Gripen to the the final showdown

Yesterday, the Government of Canada officially announced that the two remaining competitors in the running to replace the Royal...

United completed first passenger flight in history using 100% sustainable aviation fuel

On December 1, 2021, United Airlines carried out the first-ever passenger flight operated with 100% sustainable aviation fuel -...
- Advertisement -

737 MAX back in service: Safran plans to produce more engines

CFM International partner Safran, along with GE Aviation, expects engine demand to increase by 2023, due to the return...

Copa Airlines to return to Rosario and Salta in 2022

After the impact of the pandemic and the severe government restrictions that only in October allowed the reinstatement of...

You May Also LikeCheck It Out!
Recommended For You