Aeromexico Mulls Bankruptcy But Says No Decision Has Been Made Amidst Decline in Travel

By Kurt Stolz on 20 June 2020
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Grupo Aeromexico, the parent company of Aeromexico, the Mexican flag carrier, said late Friday that “it has not initiated, nor has it made the decision to initiate” a restructuring under Chapter 11 of the U.S. Bankruptcy Code.

The Mexican carrier said it is weighing its options and emphasized in a statement that no final decision has been made.

“We are currently identifying additional sources of financing to strengthen operating cash flows,” it said late Friday. “We are also analyzing different alternatives to successfully achieve, in the short and medium term, an orderly restructuring of financial commitments, without affecting or disrupting operations.”

Aeromexico, which was founded in 1934 as Aeronaves de México, is based in Mexico City and operates flights to over 90 destinations.  The parent company, Grupo Aeromexico also owns Aeroméxico Connect, its regional airline; and Aeroméxico Contigo, which operates flights on select transborder routes to the United States.

The airline operates an all-Boeing fleet of 68 aircraft including 19 Boeing 787 Dreamliners wide-body jets and 49 Boeing 737 narrow-body aircraft.

(Photo: Accura Media Group)

Accura News

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