Mexico's legacy airline Aeromexico files for bankruptcy
AP

Mexico's legacy airline Aeromexico files for bankruptcy

  • 0

MEXICO CITY (AP) — Mexico’s oldest legacy airline, Aeromexico, said Tuesday it has filed for Chapter 11 reorganization, a form of bankruptcy in which the carrier can keep operating while its debts and obligations are sorted out.

The airline said “this legal process will not interrupt the airline’s operations” and that all tickets, reservations and bonus points would continue to be honored.

Like many airlines throughout the world, Aeromexico has been squeezed by a decline in travel due to the coronavirus pandemic.

Aeromexico General Director Andrés Conesa said “the COVID-19 pandemic has had an unprecedented impact on the global economy and travel industry.”

In a statement, Aeromexico wrote that “many leading airlines throughout the world have used Chapter 11 to strengthen their financial position, and they continue to be solid companies that serve passengers across the world now. That is what we intend to do.”

Mexico's government has refused to bail out large private companies, even those battered by the pandemic.

Mexico's other legacy airline, Mexicana, went into a Mexican bankruptcy proceeding in 2010 and never re-emerged.

Copyright 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.

Concerned about COVID-19?

* I understand and agree that registration on or use of this site constitutes agreement to its user agreement and privacy policy.

Related to this story

Most Popular

CANBERRA, Australia (AP) — Australian Prime Minister Scott Morrison said Thursday his government was considering an offer of safe haven to Hong Kong residents threatened by China’s move to impose a tough national security law on the semi-autonomous territory.

  • Updated

BELGRADE, Serbia (AP) — Thousands of protesters fought running battles with police and tried to storm the parliament building in Belgrade on Tuesday after the Serbian president announced that a coronavirus lockdown will be reintroduced in the Balkan country.

  • Updated

NICOSIA, Cyprus (AP) — Cyprus’ beleaguered tourism sector got some good news after the government announced on Friday that travelers from the U.K. will be allowed entry into the east Mediterranean island nation next month without having to undergo a compulsory 14-day quarantine.

Get up-to-the-minute news sent straight to your device.

Topics

News Alerts

Breaking News