June 23, 21 - 1:50 pm - Reuters

Aeromexico obtains U.S. bankruptcy court approval to defer recovery plan submission

Mexican airline Aeromexico said on Tuesday the U.S. Bankruptcy Court for the Southern District of New York, presiding over its chapter 11 restructuring process, gave it 75 more days to present a reorganization plan.

“The court approved the extension because, among other reasons, of the good progress the company has made with its restructuring,” Aeromexico said.

The company filed for bankruptcy in July last year, after Latam and Avianca. In November, the airline requested permission to dismiss 1,830 employees in order to save $44 million.

In May, the airline transported 1.4 million passengers, 12.9% more than in April 2021, but still below the pre-pandemic levels. Passengers carried were at 76.4% of May 2019 levels – domestic at 91.8% and international at 48.8%.