On Wednesday night Grupo Aeroméxico reported that the United States Bankruptcy Court for the Southern District of New York accepted its request for the voluntary process under Chapter 11.
“We are very satisfied with the prompt resolution and approval of the court to these first requests, which help to guarantee the continuity of operations during this process,” said its CEO, Andrés Conesa.
After analyzing various financing proposals, the group decided to start a restructuring process in the US this week, following in the footsteps of the iconic Latin American airlines Avianca and Latam, also affected by the Covid-19 pandemic.
The Mexican airline will offer fewer flights and have fewer planes in the short term, but it will not stop operations. In fact, in July the company expects to double the number of its domestic flights and quadruple the number of international flights as compared to June.
Differently from Aeromexico, Avianca and Latam are not operating in Colombia and Chile due to governmental decisions in these two countries. Latam also announced the suspension of its operation in Argentina last month.
In a statement, Conesa considered that Aeromexico took a successful first step. We look forward to continuing to safely expand flight service in the coming months, in line with local regulations and customer demand.”