LatinNews Daily - 18 March 2022

In brief: Mexico’s Aeroméxico exits bankruptcy

* Mexican airline holding company Grupo Aeroméxico, has announced that it has exited bankruptcy following the conclusion of a financial restructuring plan that was approved by a US bankruptcy court in January. The airline had filed for Chapter 11 protection in the US in July 2020, which permits reorganisation under US bankruptcy laws, after experiencing financial difficulties due to travel restrictions during the coronavirus (Covid-19) pandemic. “Today is an incredibly exciting day for Aeroméxico and we are ready to soar to new heights as we emerge from Chapter 11,” said Aeroméxico CEO Andrés Conesa in a press statement. “We look forward to starting a new chapter in our company’s history, backed by a sound financial base, solid capital structure, and investors who have full confidence in our future.” Aeroméxico now plans to invest US$5bn over the next five years in its fleet and customer experience. Over the coming year, the company expects to receive 22 more airplanes, bringing its fleet to 145 aircraft. Aeroméxico also announced it will restart some international routes it had halted during the pandemic over the coming year, including to London, and open new ones.

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