Mexico’s flagship airline declared Tuesday that it had used to begin restructuring under Chapter 11, which will allow it to go on traveling.
“Our field faces unprecedented difficulties due to considerable declines in desire for air transportation,” CEO Andrés Conesa claimed in a statement. “We are dedicated to getting the vital measures so that we can operate successfully in this new landscape and be effectively prepared for a prosperous long term when the Covid-19 pandemic is behind us.”
Aeromexico intends to use the approach “to bolster our monetary position, get new funding and maximize our liquidity,” Conesa mentioned.
Day-to-working day operations will proceed as the business commences a monetary overhaul. Travellers ought to even now be capable to fly working with their present tickets, and employees will continue on to get paid as typical, according to administration.
The enterprise is also hinting at a gradual restoration. As air journey starts to rebound in some nations around the world, Aeromexico will “extend flight support” imminently, with options to double its domestic flights and quadruple global capability in July as opposed to concentrations from last month, it stated.
The carrier now needs to “produce a sustainable platform to thrive in an unsure world-wide financial system,” Conesa additional.