Stock Groups

Aeromexico says bankruptcy process completed, promises $5 billion investment -Breaking

by Mike Robinson

[ad_1]

© Reuters. After Grupo Aeromexico pilots tested positive for coronavirus (COVID-19), passengers queue up to board flights at Benito Juarez International Airport, Mexico City, Mexico, January 10, 2022. This was in response to the Omicron variant spreading.

MEXICO CITY (Reuters – Grupo Aeromexico, a Mexican carrier said that on Thursday they had completed their financial restructuring. It also filed Chapter 11 bankruptcy. The end of a two-year process.

It also stated it will invest $5 billion in the next five-years on its airplane fleet and other relevant actions, to improve customer and employee experience.

Aeromexico announced plans to acquire 22 additional planes by 2022. This will bring its fleet to 147 aircraft at the close of 2018. According to the company, it would save $2 billion by purchasing 28 Boeing planes (NYSE:).

According to a press release, the airline stated that they will restart international routes and create new ones. This includes services to London.

Aeromexico’s Chief Executive, Andres CONESA said that today was an exciting day and the company is ready to rise from Chapter 11.

Conesa said, “We look forward starting a fresh chapter in the history of our company, backed up by a sound financially base, solid capital structurie, and investors that have full faith in our future.”

Disclaimer: Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs are stocks, indexes or futures. The prices of Forex and CFDs are not supplied by exchanges. They are instead provided by market makers. As such, the prices might not reflect market values and could be incorrect. Fusion Media does not accept any liability for trade losses that you may incur due to the use of these data.

Fusion MediaFusion Media and anyone associated with it will not assume any responsibility for losses or damages arising from the use of this website’s data including quotes, charts, or buy/sell signal information. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.

[ad_2]