Andres ConesaCEO of Aeromexico, celebrated that airline mexican conclude successfully your process of financial restructuring under the Chapter 11 from Bankruptcy Law of the EE.UU., derived from the economic crisis caused by the COVID-19.
In interview with Joaquin Lopez-Doriga for your space Radius Formula, Conesa Labastida He asserted that this is the first time that a Mexican company successfully exits Chapter 11, marking a historic event.
We have Aeroméxico for life. We have just come out of this restructuring process, which was a very complicated stage, but we are not finished, every day we have to reinvent ourselves and continue doing things better to stay current. With this we guarantee that there will be Aeroméxico forever, to leave our children a very solid airline and flying higher”, he said.
“It is the first time in the history of this country that a Mexican company goes through this process and comes out successfully, it had never happened before, a thank you to my colleagues in the Aeroméxico family for making it possible,” he said.
The airline Aeromexicodeclared in bankruptcy a mmiddle of 2020announced this Thursday that it concluded “successfully” its financial restructuring process in United States.
We know that, in your heart, you never stopped flying. Neither do we, and today as we conclude our financial restructuring, we are ready to fly with a #NuevoAire and give you the best travel experience. pic.twitter.com/havAUvhVvs
— Aeromexico (@Aeromexico) March 17, 2022
“Group Aeromexico (…) announced today that it has successfully concluded its financial restructuring process and has emerged from its procedure under the Chapter 11 after the confirmation of the Court of its Restructuring Plan without objections and having fulfilled certain conditions,” the company said in a statement.
Last January 28, Aeromexico announced that it had obtained approval for its restructuring plan in United States by a judge of the Bankruptcy Court.
Aeromexico He explained then that he would continue “working with all his key participants to quickly get out of the process”, as has happened today.
Conesa Labastida pointed out that the Mexican airline has a capital value of the restructured company (“Equity Value Plan”) of approximately two thousand 560 million dollars and “among its main shareholders are funds managed by Apollo Global Management, Delta Air Lines, as well as the existing and new Mexican investors that form the voting control group”.
The director of the Mexican airline pointed out that the company “is stronger than before the pandemic”, with an investment plan considered the most important in its history.
“By 2025 we are going to invest approximately five billion dollars to improve the travel experience of our customers, also so that the members of the Aeroméxico family have better spaces to work, which are the planes, it is to continue investing in the fleet. ”, he explained.
“Before he showed up COVID-19, Aeromexico it had 125 planes, we had to immediately let go of about 30 planes, we went down to 95 but a lot of those during the pandemic didn’t fly. For the summer we plan to fly 145 planes, we are going to be 20 above what we had before the pandemic with a greater offer of seats and this is part of the investment plan that we have for the next three years, “he said.
Andres Conesa highlighted the great effort made by the Aeroméxico Group family over the last two years, the time that the pandemic from coronavirus
“We never stopped flying despite going through the deepest crisis that aviation has experienced in the world, despite this situation we never stopped even at the peak of the pandemic and we managed to move forward with our own efforts,” he declared.
We achieved this without requiring a single penny of fiscal resources, far from not having required support from the Government, we are 100 percent up to date on all payments to the Mexican Government, we contribute to the development of this country. This great responsibility that Aeroméxico has with Mexican society was fulfilled despite such a complicated situation, ”he argued.
With information from López-Dóriga Digital