Mexican investors seek stake in Aeroméxico

Grupo Aeroméxico announced in a stock filing on July 9 that “a group of Mexican shareholders” had signalled its intention to invest in the company as part of its ongoing restructuring.

“Grupo Aeroméxico was informed by an existing group of Mexican shareholders that they have the intention to participate in the new equity to be issued by Aeroméxico as part of its reorganisation plan under the current Chapter 11 voluntary financial restructuring process, for which they have carried out initial conversations with various creditors and potential investors of Aeroméxico,” the brief disclosure said.

“As of this date, Aeroméxico is not aware of the formalisation of any agreement and, in due course, it will inform on the execution of any agreement that might be formalised. The foregoing is expected to be a material, controlling, and long-term investment, in full compliance with the applicable provisions of the Mexican foreign investment law.”

The Aeroméxico (AM, México City Int’l) parent secured in August 2020 USD1 billion debtor-in-possession (DIP) financing from New York-based investment firm Apollo as part of its Chapter 11 restructuring in the United States. Longtime partner Delta Air Lines revealed its intention on July 1 to exercise an option to buy USD185 million of the credit rights in the second tranche of the DIP loan for the privately-owned Mexican flag carrier.