Aeroméxico has become the latest Latin American Flag Carrier to begin the exit from Chapter 11 bankruptcy proceedings
The Mexican operator's creditors recently approved Aeroméxico's restructuring proposals on 11 January 2022, with further hearings and consideration set for late January 2022. The parent company's creditors had previously objected to the restructuring plan, citing conflicts of interest with parties including Delta Air Lines. who own approximately half of Aeroméxico and have 2 seats on the company board.
Aeroméxico's progress follows on from Columbian flag carrier Avianca's exit from Chapter 11 in late 2021, who opted for a restructuring plan that adopts a flexible low cost model. Chilean flag carrier LATAM's restructuring plan is pending approval with the US courts as of 12 January 2022. LATAM, Avianca and Aeroméxico all voluntarily entered Chapter 11 proceedings in 2020 due to lockdowns, travel restrictions and the fall in demand bought about by the Coronavirus pandemic.
According to fleet data from IBA's aviation intelligence platform InsightIQ, the Aeroméxico fleet is dominated by a mix of Boeing 737-800, Boeing 737 MAX 8 and Embraer E190LR aircraft. This includes Aeroméxico and Aeroméxico Connect. Aeroméxico aircraft orders stand at 9 aircraft in total, comprised of 6 x Boeing 737 MAX 9 and 3 x 737 MAX 8 jets.
IBA’s InsightIQ analysis platform flexibly illustrates multiple asset, fleet and market positions, actual and potential, to inform client choices and identify acquisition opportunities. Immediate access to crucial aircraft, engine, lease rate and fleet data eases appreciation of historic and future aircraft concentrations and operator profiles.
AuthorSee full profile
If you have already been provided with your InsightIQ credentials, click InsightIQ. If you are looking for IBA.iQ, click IBA.iQ.