Mexico-based Grupo Aeromexico has announced it is evaluating alternatives to move toward a better financial position after the impact of the COVID-19 crisis, the company said.
During the last four months, the company has proactively taken constructive actions to protect and preserve the ongoing business and cash flow, always prioritizing customer service, with the full support and solidarity of all our employees, key suppliers and service providers.
The Company hereby informs that it has not initiated, nor has it made the decision to initiate, a restructuring procedure under Chapter 11 of the Unites States Bankruptcy Code. The company is currently identifying additional sources of financing to strengthen operating cash flows. 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. The above in full coordination with unions, creditors, lessors and in compliance with the obligations derived from our licenses and concessions.
Grupo Aeromexico, S.A.B. de C.V. (BMV: AEROMEX) is a holding company whose subsidiaries are engaged in commercial aviation in Mexico and the promotion of passenger loyalty programs. Aeromexico, Mexico´s global airline, operates more than 570 daily flights and its main hub is in Terminal 2 at the Mexico City International Airport. Its destinations network features more than 80 cities on three continents, including 42 destinations in Mexico, 17 in the United States, 15 in Latin America, 4 in Canada, 5 in Europe and 2 in Asia.