Read us | Listen to us | Watch us | Join Live Events | Turn Off Ads | Live |

Click on your language to translate this article:

Afrikaans Afrikaans Albanian Albanian Amharic Amharic Arabic Arabic Armenian Armenian Azerbaijani Azerbaijani Basque Basque Belarusian Belarusian Bengali Bengali Bosnian Bosnian Bulgarian Bulgarian Catalan Catalan Cebuano Cebuano Chichewa Chichewa Chinese (Simplified) Chinese (Simplified) Chinese (Traditional) Chinese (Traditional) Corsican Corsican Croatian Croatian Czech Czech Danish Danish Dutch Dutch English English Esperanto Esperanto Estonian Estonian Filipino Filipino Finnish Finnish French French Frisian Frisian Galician Galician Georgian Georgian German German Greek Greek Gujarati Gujarati Haitian Creole Haitian Creole Hausa Hausa Hawaiian Hawaiian Hebrew Hebrew Hindi Hindi Hmong Hmong Hungarian Hungarian Icelandic Icelandic Igbo Igbo Indonesian Indonesian Irish Irish Italian Italian Japanese Japanese Javanese Javanese Kannada Kannada Kazakh Kazakh Khmer Khmer Korean Korean Kurdish (Kurmanji) Kurdish (Kurmanji) Kyrgyz Kyrgyz Lao Lao Latin Latin Latvian Latvian Lithuanian Lithuanian Luxembourgish Luxembourgish Macedonian Macedonian Malagasy Malagasy Malay Malay Malayalam Malayalam Maltese Maltese Maori Maori Marathi Marathi Mongolian Mongolian Myanmar (Burmese) Myanmar (Burmese) Nepali Nepali Norwegian Norwegian Pashto Pashto Persian Persian Polish Polish Portuguese Portuguese Punjabi Punjabi Romanian Romanian Russian Russian Samoan Samoan Scottish Gaelic Scottish Gaelic Serbian Serbian Sesotho Sesotho Shona Shona Sindhi Sindhi Sinhala Sinhala Slovak Slovak Slovenian Slovenian Somali Somali Spanish Spanish Sudanese Sudanese Swahili Swahili Swedish Swedish Tajik Tajik Tamil Tamil Telugu Telugu Thai Thai Turkish Turkish Ukrainian Ukrainian Urdu Urdu Uzbek Uzbek Vietnamese Vietnamese Welsh Welsh Xhosa Xhosa Yiddish Yiddish Yoruba Yoruba Zulu Zulu

Aeromexico Airline and Pilots Union Still At Odds

aeromexicopilots
aeromexico airline and pilots

Aeromexico airline and pilots union, Asociaci贸n Sindical de Pilotos Aviadores de Mexico (ASPA) which represents Mexican pilots, are still at odds over current negotiations. Agreement is necessary in order for the airline to meet the commitments and objectives required by bankruptcy lenders allowing the company to access subsequent disbursements under the Senior Debtor in Possession Credit Facility (DIP Financing).

Aeromexico (Grupo Aerom茅xico, S.A.B. de C.V.) must continue negotiations with ASPA in order to reach agreement during the 7-day grace period established at the Credit Agreement (Cure Period).

The airline announced that following its previous relevant event dated December 29, 2020, although significant progress has been made in the negotiations of the new Collective Bargaining Agreements, necessary adjustments to face the adverse effects caused to the airline industry due to the global pandemic of COVID-19, negotiations with all unions that have not yet concluded, pursuant to the milestones required by the lenders to access disbursements under the Senior Debtor in Possession Credit Facility (DIP Financing), obtained within its voluntary financial restructuring process under Chapter 11 of the Bankruptcy Code of the United States of America.

Negotiations with the Asociaci贸n Sindical de Sobrecargos de Aviaci贸n de M茅xico (ASSA) continue advancing in the best conditions. Therefore, the company expects to reach agreement during the aforementioned period, which will be reported in the following days.

The company recognizes the effort that the unions have made to contain the negative effects of the pandemic and will continue to work in a coordinated manner with its representatives in order to meet the necessary conditions to request the next disbursement under Tranche 2 of the DIP Financing.

Aeromexico will continue pursuing in an orderly manner the voluntary process of its financial restructuring under the Chapter 11 process, while continuing to operate and offer services to its customers and contracting from its suppliers the goods and services required for operations. The company will continue to use the advantages of the Chapter 11 proceeding to strengthen its financial position and liquidity, protect and preserve operations and assets, and implement the necessary adjustments to manage the impact of COVID-19.

#rebuildingtravel