Aeromexico files its Chapter 11 Plan of Reorganization

Aeromexico files its Chapter 11 Plan of Reorganization
Aeromexico files its Chapter 11 Plan of Reorganization
Avatar of Harry Johnson
Written by Harry Johnson

The filing of the Plan is a key milestone on Aeroméxico’s path to emergence from its Chapter 11 process, and the Company looks forward to continue to engage with its stakeholders to finalize the Plan on a consensual basis.

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  • Aeromexico files the Joint Plan of Reorganization, a disclosure statement to the Plan and a motion to approve solicitation procedures with respect to the Plan.
  • Aeromexico will continue pursuing, in an orderly manner, its voluntary financioal restructuring through Chapter 11.
  • Aeromexico will continue to strengthen its financial position and liquidity and protect and preserve its operations and assets.

Grupo Aeroméxico, S.A.B. de C.V. informed that it filed, together with its subsidiaries that are debtors in the Company’s Chapter 11 voluntary financial restructuring process, the Joint Plan of Reorganization, a disclosure statement related to the Plan and a motion to approve solicitation procedures with respect to the Plan.

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Aeroméxico intends to file one or more supplements to the Plan on the schedule set forth in the Plan or as otherwise ordered by the Court. A hearing to approve the Disclosure Statement is expected to be held on or about October 21, 2021. Upon entry of an order approving the Disclosure Statement, the Company intends to begin the process to solicit votes on the Plan.

The filing of the Plan is a key milestone on Aeroméxico’s path to emergence from its Chapter 11 process, and the Company looks forward to continue to engage with its stakeholders to finalize the Plan on a consensual basis.

Aeroméxico will continue pursuing, in an orderly manner, its voluntary financial restructuring through Chapter 11, while continuing to operate and offer services to its customers and contracting from its suppliers the goods and services required for operations.

Aeroméxico will continue to strengthen its financial position and liquidity, protect and preserve its operations and assets, and implement necessary adjustments to mitigate the effects of COVID-19.

Aerovías de México, S.A. de C.V. operating as Aeroméxico, is the flag carrier airline of Mexico, based in Mexico City. It operates scheduled services to more than 90 destinations in Mexico; North, South and Central America; the Caribbean, Europe and Asia.

WHAT TO TAKE AWAY FROM THIS ARTICLE:

  • informed that it filed, together with its subsidiaries that are debtors in the Company’s Chapter 11 voluntary financial restructuring process, the Joint Plan of Reorganization, a disclosure statement related to the Plan and a motion to approve solicitation procedures with respect to the Plan.
  • The filing of the Plan is a key milestone on Aeroméxico's path to emergence from its Chapter 11 process, and the Company looks forward to continue to engage with its stakeholders to finalize the Plan on a consensual basis.
  • Aeroméxico intends to file one or more supplements to the Plan on the schedule set forth in the Plan or as otherwise ordered by the Court.

About the author

Avatar of Harry Johnson

Harry Johnson

Harry Johnson has been the assignment editor for eTurboNews for mroe than 20 years. He lives in Honolulu, Hawaii, and is originally from Europe. He enjoys writing and covering the news.

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