Mexican airline firm Grupo Aeroméxico SAB stated Tuesday it has filed for voluntary restructuring underneath chapter 11 of the U.S. chapter code to confront the disaster introduced on by the coronavirus pandemic.
Like different airways, Aeromexico is reeling from the impression that the pandemic has had on the worldwide journey trade. The provider’s passenger site visitors fell by greater than 90% in April and in Might, in contrast with the year-earlier months.
“Our trade faces unprecedented challenges derived from a big discount in passenger demand on a worldwide degree,” the corporate stated in a submitting with the Mexican inventory trade.
“With the chapter 11 restructuring course of, we are going to strengthen our monetary place and enhance our liquidity, on the identical time making a sustainable platform to permit us to efficiently climate the present international financial uncertainty,” it added.