The Mexican flag carrier, Aeromexico has finally admitted it is facing financial crisis as a result of the Covid-19 pandemic effect, thereby filed for Chapter 11 bankruptcy protection in the United States.
Aeromexico said it will use the opportunity to restructure the airline, while serving its passengers.
In a statement released by Aeromexico CEO, Andres Conesa, he said:
“Our industry faces unprecedented challenges due to significant declines in demand for air transportation.” We are committed to taking the necessary measures so that we can operate effectively in this new landscape and be well prepared for a successful future when the Covid-19 pandemic is behind us.”
Aeromexico intends to use the process “to strengthen our financial position, obtain new financing and increase our liquidity,” Conesa said.