Grupo Aeroméxico, S.A.B. de C.V. announces that it has reached satisfactory agreements with the Asociación Sindical de Pilotos Aviadores de México (ASPA) and the Asociación Sindical de Sobrecargos de Aviación de México (ASSA), during the restructure of their Collective Bargaining Agreements. The agreements, approved yesterday by personal and direct vote of the Company’s pilots and flight attendants, are essential to face the adverse effects caused globally to the airline industry by the COVID-19 pandemic and shall be formalized in the following days.
The results achieved during the negotiations were necessary for the Company to meet certain commitments and objectives required by the DIP lenders under the Senior Debtor in Possession Credit Facility, obtained within the Company’s voluntary financial restructuring process.
The Company recognizes the important effort that the flight attendants of ASSA and pilots of ASPA have made to face the negative effects of the pandemic and will continue to work in a coordinated manner with the unions’ representatives to formalize the agreements reached.
Aeromexico also recognizes the support of its unionized employees of the Sindicato de Trabajadores de la Industria Aeronáutica, Comunicaciones Similares y Conexos de la República Mexicana (STIA) and the Sindicato Nacional de Trabajadores al Servicio de las Líneas Aéreas, Transportes, Servicios, Similares y Conexos (Independencia), with whom the Company reached satisfactory agreements last December, which was communicated previously. Likewise, the Company highlights the efforts of non-unionized employees, as well as the Mexican Government for accompanying the airline throughout this process.
The Company will continue working in the following days on the process to comply with the conditions and obligations established in the Credit Agreement, in order 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 strengthen its financial position and liquidity, protecting and preserving the operation and assets, and implementing the necessary adjustments to face the impact derived from COVID-19.