Another Latin American carrier seeks protection
After this week's grounding of Liat, owned by seven Caribbean governments, and preceded by Avianca (see ITJ 21-22/2020, p. 41) as well as Latam, Grupo Aeromexico announced on 30 June 2020 that it and certain of its affiliates have filed voluntary Chapter 11 petitions in the USA to implement a financial restructuring while continuing to serve customers.
The company said it intends to use the Chapter 11 process to strengthen its financial position and implement necessary operational changes to address the impact of the ongoing Covid-19 pandemic and create a sustainable platform for the future.
Aeromexico also intends to continue ordering goods and services from its suppliers and expects to meet its current commercial agreements with partner airlines, including its key joint cooperation agreement with Delta Air Lines. (ah)