The COVID-19 pandemic has forced the Mexico City-based airline to file for Chapter 11 in the United States.
Grupo Aeromexico announced this week that it has filed for voluntary Chapter 11 bankruptcy in the United States. Citing the business losses and other major challenges related to the pandemic, the airline's leaders aim to use the restructuring option to strengthen its financial position for the company's long-term continuity.
"Our industry faces unprecedented challenges due to significant declines in demand for air transportation," said Aeromexico CEO Andrés Conesa, in a statement. "We are committed to taking the necessary measures so that we can operate effectively in this new landscape and be well prepared for a successful future when the COVID-19 pandemic is behind us. We expect to utilize the Chapter 11 process to strengthen our financial position, obtain new financing and increase our liquidity, and create a sustainable platform to succeed in an uncertain global economy."
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