MEXICO CITY, (Reuters) – Mexican airline Aeromexico announced Monday that shareholders approved a capital rise as part of its restructuring plan in order to avoid bankruptcy.

Shareholders agreed in two meetings on Friday to raise the capital by $4.267 trillion. This is subject to third parties making public tender offers of current shares.

This will result in an increase of 682 trillion shares. It will also be paid for by a $3.44 Billion debt capitalization and an injection of $828 M.

Apollo Global Management, Aeromexico’s largest creditor, in its U.S. Chapter 11 lawsuit, (NYSE:) will convert its debt into equity during the restructuring, making the airline the largest shareholder.

Delta Air Lines Inc. (NYSE:), the company that controlled a large portion of Aeromexico prior to bankruptcy, will keep about a fifth its stock when it emerges from bankruptcy.

Aeromexico’s shares are currently in circulation at 682.1 millions. Shareholders who are equity holders will have their shares essentially erased.

Aeromexico said that shareholders have agreed to issue additional 68.2 Trillion shares. These will be kept in Aeromexico’s Treasury.

An spokesperson from the company refused to comment.

Aeromexico was hard hit in 2020 by coronavirus pandemic. In July 2020, Aeromexico filed Chapter 11 bankruptcy in the United States.

Aeromexico stated last week that its creditors had approved their restructuring plan. The vote was held on Jan. 7.

Aeromexico reported that now the U.S. bankruptcy judge will approve the plan Jan. 27.

Since the company announced that it will sell all its shares for 0.01 Mexican Pesos each, shares of the company have fluctuated sharply in recent months.

Aeromexico stock rose by 5.38% Monday to 1.96 pesos after the announcement.