Grupo Aeroméxico, which operates the main Mexican airline, reported that its creditors approved its restructuring plan in a vote that ended on January 7 and the results of which it sent to a bankruptcy court in the United States on Tuesday.
Aeromexico, which like other airlines in the world has been hit hard by a collapse in demand due to the coronavirus pandemic, requested in mid-2020 the protection of the United States justice to reach an agreement with its creditors.
“The voting request process concluded on January 7, 2022 with strong creditor support throughout the Company’s debt structure.”, Said the company in a statement to the Mexican stock exchange in reference to the restructuring plan.
“Votes were cast on credit accounts for a total of approximately US $ 2.68 billion, of which approximately 86% (or the equivalent of approximately US $ 2.3 billion) were cast in favor of the Plan.”He added.
Aeromexico said the company and its subsidiaries, except Aerovías Cargo Company, obtained the necessary favorable votes in favor of the plan and that the creditors’ support represents “un hito”In the restructuring process and puts her on the line to get the plan approved by the court.
The company added that a shareholders’ meeting on the restructuring plan will be held on January 14 and that a hearing in bankruptcy court on the confirmation of the plan is scheduled for January 27.
The actions of Aeromexico They have suffered a strong swing in recent weeks amid speculation about their restructuring process.
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