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Aeromexico to make multi-million investment to modernize fleet

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Aeromexico to make multi-million investment to modernize fleet

Mexico, Mar 19 (Prensa Latina) Mexico's flagship airline, Aeromexico, will inaugurate the new Felipe Angeles International Airport (AIFA) with an investment of five billion dollars to modernize its fleet, the company announced in a press release

This way, Aeromexico, which fell into a financial crisis during the Covid-19 pandemic and was saved by very strong Government operations to subsidize it, took advantage of the last two years to engaged in a financial restructuring under the US Bankruptcy Act.

That legal process has just concluded, according to a press release, with a value of capital of approximately 2.56 billion dollars, which allows the airline to make new investments at the indicated amount.

Among the company’s main shareholders are funds from Apollo Global Management and Delta Air Lines, as well as Mexican investors.

The Baupost Group, Silver Point Capital, Oaktree Capital Management and other creditors also became owners of the company, according to the press release.

The company stated that since 2021, it has received 31 aircraft and it expects to receive 22 more in 2022, to have a fleet of 147 planes with an average age of seven years.

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