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."
The airline will continue its regular operations, honoring all tickets and reservations, and expects to expand flight service in the coming months, following local regulations and customer demand. This month, Aeromexico is expected to double the number of its domestic flights and quadruple the number of international flights compared with last month. As part of the restructuring, the company is also in talks to obtain additional financing.
The airline's leaders emphasized that as they move forward, safety would remain their focus. Since the pandemic first broke, Aeromexico has put strict health protocols in place aimed at ensuring the health and safety of its employees and customers, following guidelines from international authorities.
"Our main priority has always been to maintain a safe environment for our clients and collaborators, and we know that today it is more important than ever," said Conesa. "We encourage our customers to review the detailed information we have on our website about all that we are doing to make flying with us safe and enjoyable."