The airline saw a 54.2% drop in passenger transport in 2020, which is why it filed for Chapter 11 US bankruptcy last June in New York court for a financial restructuring.

According to Mexican media, the plan, presented last Friday, seeks to replace the Apollo Global Management fund with a new group of investors made up of Akin Gump Strauss Hauer & Feld LLP and Milbank LLP.

They pointed out that the financial restructuring plan includes selling 1187 million dollars of new shares and issuing new debt worth 537 million dollars, a total of 1.724 million dollars.

This funding is expected to allow the Mexican airline to leave Chapter 11 bankruptcy law for the United States, which it joined on June 30.

Since that moment, Mexico Airlines has indicated that it is in talks to obtain “new and preferential financing for the company, as part of the restructuring” under the measure under Chapter 11 that works to restructure the company without liquidation. Immediate and has recourse to dismissal of staff.

According to the US Securities Exchange Commission, a company that benefits from the operation can continue its operations and reorganize its structure while negotiating a payment plan with its creditors.

After a sharp decline in 2020 due to the pandemic, Mexican airlines grew 35.4% annually in the first half of 2021, carrying 23.1 million passengers, which is 9.85% less than the 25.6 million passengers in the same period in 2019 revealed by the aviation authority. Federal Civil. Afaq Agency, early August.

👍 love
😍 I love it
🤣 fun
😮 amazed
😡 angry
😢 sad