Metropolitan Airport NewsMetropolitan Airport News
  • Airport News
    • Publisher’s Message
    • Fast Five
    • On Duty
    • Air Cargo
    • Airline News
    • Airport Community
    • Airport Employment News
    • Airport Safety & Security
    • Company Spotlight
    • Ground Services
    • Intermodal
    • New York Aviation History
    • Non-Rev Traveler
  • Airport & Aviation Events
  • Airport Employment
  • Latest Issue
  • Login

Subscribe for Updates

Get the latest local airport and aviation news delivered right into your inbox each week!

News Updates
TSA explosives detection canine Ben is usually screening passengers at JFK International Airport. Here he takes a much-deserved break from screening passengers.

TSA Canines Enhancing Security at John F. Kennedy International Airport

September 20, 2023
osh Earnest Executive Vice President of Communications and Advertising; Terri Fariello, Executive Vice President of Government Affairs and Global Public Policy

United Announces New Leadership Promotions

September 19, 2023
Guillaume Halleux joins Swissport as Chief Commercial Officer

Guillaume Halleux joins Swissport as Chief Commercial Officer

September 19, 2023
Facebook Twitter Instagram
Metropolitan Airport NewsMetropolitan Airport News
  • Airport News
    • Publisher’s Message
    • Fast Five
    • On Duty
    • Air Cargo
    • Airline News
    • Airport Community
    • Airport Employment News
    • Airport Safety & Security
    • Company Spotlight
    • Ground Services
    • Intermodal
    • New York Aviation History
    • Non-Rev Traveler
  • Airport & Aviation Events
  • Airport Employment
  • Latest Issue
  • Login
Metropolitan Airport NewsMetropolitan Airport News
Home»Airline News»Aeroméxico Concludes Restructuring Process
Airline News

Aeroméxico Concludes Restructuring Process

Aeromexico exits bankruptcy with plan to invest $5 billion in fleet
Metropolitan Airport NewsBy Metropolitan Airport NewsMarch 18, 2022No Comments2 Mins Read
Facebook Twitter LinkedIn Email
AeroMexico Boeing

Grupo Aeromexico SAB has emerged from its restructuring process and will invest $5 billion over the next five years to expand its fleet as it prepares to start growing again.

The carrier won court approval to emerge from Chapter 11 in late January but still had to fulfill certain conditions to finalize the process, Aeromexico said in a statement Thursday.

The company is looking to “significantly” increase its network and fleet, which will grow to 147 jets from the current 124 by the end of the year. The $5 billion investment in the next five years will focus mostly on additional fleet growth, but also on meeting its environmental, social, and governance, or ESG, goals. The reorganized company is valued at $2.56 billion.

Mexico’s second-largest airline filed for bankruptcy in the U.S. in 2020 as the pandemic caused a severe downturn in travel. Aeromexico saw the number of passengers it carried plummet more than 90% as governments grounded flights and travelers stayed home. The carrier, unlike its counterparts in the U.S. and Europe, received little to no support from the government.

“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,” said Chief Executive Officer Andres Conesa in the statement.

The company will raise approximately $1.5 billion in new capital, including issuing $763 million in U.S. notes, according to the statement. Apollo Global Management, which led the $1 billion debtor-in-possession financing, will retain a 22.4% stake while Delta Air Lines Inc. will have 20%. A group of Mexican investors will hold a 4.1% stake, while the remaining shares will be distributed among new investors and creditors.

Conesa, Chief Financial Officer Ricardo Sanchez Baker, and Chairman Javier Arrigunaga will remain in their current roles.

Share. Facebook Twitter LinkedIn Email
Metropolitan Airport News
  • Website
  • Facebook
  • Twitter
  • LinkedIn

Produced by a team of aviation professionals and enthusiasts, our mission is to inform and update the more than 68,000 employees who work on the metropolitan New York airport properties, as well as the many others that provide goods and services in the surrounding communities.

RELATED NEWS & UPDATES

JetBlue London Heathrow Arrival Landing

JetBlue “Welkoms” Amsterdam Service with Flights from New York

August 31, 2023
American Airlines

American Airlines Education Foundation Awards Nearly $1 Million in Scholarships

August 4, 2023
First Braille-equipped aircraft now flying and the airline expects to outfit entire mainline fleet by 2026

United Becomes First U.S. Airline to Add Braille to Aircraft Cabin Interiors

July 27, 2023
SWISS Bids Farewell to a Fleet Icon

SWISS Bids Farewell to a Fleet Icon

July 26, 2023
The nearly 14,000-square-foot Club seats more than 250 guests and includes sweeping views of the airfield.

JFK’s 2nd Delta Sky Club Steps Into the Spotlight

July 25, 2023
JetBlue Technology Ventures Invests in Universal Hydrogen to Support the Airline’s Ambitious Sustainability Strategy

JetBlue Announces Next Steps of Wind Down Plan for Its Northeast Alliance with American Airlines

July 14, 2023
Add A Comment

Leave A Reply Cancel Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

AIRPORT & AVIATION EVENTS
2023 Kiwanis Kids Day (Rescheduled)
September 23, 2023 - September 23, 2023
10:00 AM to 2:00 PM
  • LaGuardia Airport-(LGA)
Queens, New York
JFK Airport Food Service Recruitment Event
September 25, 2023
9:00 AM to 12:00 PM
  • John F. Kennedy International Airport-(JFK)
Jamaica, New York
Civil Air Patrol Falcon Squadron Meeting
September 25, 2023
7:00 PM to 9:00 PM
  • John F. Kennedy International Airport-(JFK)
Jamaica, New York
  • >> More Airport & Aviation Events

Subscribe for Weekly Email Updates

Get the latest local airport news, events, and jobs delivered right into your inbox each week.

Metropolitan Airport News provides timely news, information and updates for both Port Authority of New York & New Jersey (PANYNJ) employees and businesses that provide services at, and around the major New York airports (JFK, LGA, EWR).

John F. Kennedy International Airport
PO Box 300877
Jamaica, NY 11430 USA
Phone: (347) 396-0904
Email Us

Facebook Twitter YouTube LinkedIn Flickr
SEPTEMBER 2023 ISSUE
Metropolitan Airport News - September 2023
LATEST COMMENTS
  • Robert Waldvogel on Long Island MacArthur: New York’s Secondary Airport
  • USN Veteran on Long Island MacArthur: New York’s Secondary Airport
  • Stephen Adams on The Ultimate Airline Employee Incentive
  • Jeff Landgrebe on The Ultimate Airline Employee Incentive
  • About Us
  • Advertising Options
  • Charitable Giving Program
  • Back Issue Archive
  • Contact Us
© 2023 Airport Media, Inc. All rights reserved.

Type above and press Enter to search. Press Esc to cancel.