Aeromexico Denies It Is Considering Filing For Bankruptcy

The Mexican carrier Aeromexico is denying reports that it will be initiating bankruptcy proceedings. The carrier made the statement on June 19th after there were whispers of the group heading towards a Chapter 11 filing per the United States Bankruptcy Code. While the airline is not yet considering restructuring under Chapter 11, the airline is still in search of funding.

In an information update released by Aeromexico, flatly denied that any interest in restructuring under Chapter 11– for now. The carrier stated the following:

“The Company hereby informs that it has not initiated, nor has it made the decision to initiate, a restructuring procedure under Chapter 11 of the Unites States Bankruptcy Code. We are currently identifying additional sources of financing to strengthen operating cash flows. We are also analyzing different alternatives to successfully achieve, in the short and medium term, an orderly restructuring of financial commitments, without affecting or disrupting operations. The above in full coordination with unions, creditors, lessors and in compliance with the obligations derived from our licenses and concessions.”

The carrier, like just about every other airline in the world, has been walloped by the current global health crisis. Aviation, in particular, took a massive hit after countries closed borders and wreaked havoc on schedules. Not to mention, many airlines were doling out millions of dollars in refunds– with even more expected to come.

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