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Aeroméxico reportedly considering bankruptcy in the USA

The shares of Grupo Aeroméxico declined in the Mexican Stock Exchange (BMV) after reports that the airline is considering filing for bankruptcy in the United States and benefit from Chapter 11 in the midst of the effects caused by the coronavirus.

Although the Mexican stock market operated in positive terrain, Aeroméxico shares led the falls, with a drop of 6.59 percent to 6.52 pesos per unit.

LATAM Airlines has filed under the protection of Chapter 11 of the United States bankruptcy law, which allows a company that is not in a position to pay its debts to restructure without creditor pressure.

Grupo Aeroméxico, which operates the country’s largest airline, denied on Friday that it had initiated a restructuring procedure in the United States under Chapter 11, or was considering doing so, as reported.

The company also said, in a statement, that it is identifying additional sources of financing to strengthen operating flows and “different alternatives to successfully achieve, in the short and medium-term, an orderly restructuring of financial commitments” without affecting operations.

This month Aeroméxico began to increase flights to various international destinations due to the opening that has occurred in some countries as part of the economic revival and the lifting of restrictions.

Given this, the airline increased its security measures and established, among other actions, the use of mouth masks for customers, medical evaluation of crews, delivery of protective supplies, and constant disinfection of its facilities.

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