Group Aeroméxico announcementó today that the company and some of its subsidiaries began a voluntary restructuring processón financial under the Capíleakage 11 in the U.S.
Like Avianca Holding and LATAM Airlines Group, AeroméXico intends to use the restructuring processón of the Capeíleakage 11 to strengthen its positionón financial and implement the necessary operational adjustments to address the impact of COVID-19 and create a sustainable platform for the future.
“Our industry faces challengesíunprecedented losses resulting from a significant reductionón in passenger demand,” Andr said.és Conesa, CEO of Aeroméxico. “We are committed to taking the necessary measures to operate efficiently in this new reality and be better prepared for a successful future afterés of this pandemic. With the Cap processíleakage 11 We hope to strengthen our positionón financial and increase our liquidity, creating at the same time a sustainable platform that allows us to move with ésuccess economic uncertaintyóglobal mica.”
The operations of Aeroméxico continúan. For this month of July, the companyñíto increaseá its presence in the domestic marketéalmost double the number of flights compared to the previous month. further, estima que aumente su operationón international to almost four times más compared to the month of June. Aeroméxico está committed to growing your operationón safely in the prówe cry months, in líin line with local regulations and expected passenger demand.
business continuity
The process under Capíleakage 11 Eastá diseñdesigned so that companies can maintain their operations, so all the tickets, reservations, vouchers electróUnique and Premier Points remain valid in accordance with the terms and conditions.écurrent terms and conditions. The Companyñíto continueá operating normally and in accordance with its permits and concessions during this process.
The Companyñídoes not expect there to be changes in the daily tasks and responsibilities of its collaborators, the same as continuingán receiving your salary and benefits on a regular basis. AeroméXico also hasén the intentionón to continue contracting goods and services from its suppliers and expects to maintain current commercial agreements with several airlinesídenies, including his strategic allianceégic with Delta Air Lines throughés of your Collaboration Agreementón Joint.
Aeroméxico tooén isá in talks to contract new preferential financing for Compañía, as part of the restructuring within the reorganization procedureón (acquaintance, by its acronym in Englishés, como DIP financing). Aeroméxico confíwhere to endá the formal commitments for DIP financing that, together with the Company's available cashñíto and subject to approvalóCourt No., provideá sufficient liquidity for Aeroméxico meets its future obligations.
