AeroMexico has joined the list of Latin American airlines of filing for voluntary Chapter 11 protection in the US on 1 July. Although the threat of bankruptcy looms over the operator, the airline intends to continue operations.
The company stated that AeroMexico group and its specific affiliates filed Chapter 11 petitions in order to implement a new financial restructuring. AeroMexico, AeroMexico Connect and AeroMexico Cargo are all undergoing this process, local media has reported.
The Mexican flag carrier anticipates that it will double the number of domestic flights and quadruple the number of international flights in July as compared to June 2020.
“We expect to utilise the Chapter 11 process to strengthen our financial position, obtain new financing and increase our liquidity, and create a sustainable platform to succeed in an uncertain global economy”, said Andres Conesa, AeroMexico CEO.