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HomeBusinessAeromexico says creditors approve its restructuring plan By Reuters

Aeromexico says creditors approve its restructuring plan By Reuters

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© Reuters. FILE PHOTO: An Aeromexico Boeing 737 MAX 9 fuselage, part of the new airplanes incorporated to its fleet, is pictured at the Benito Juarez International airport, in Mexico City, Mexico, July 14, 2021. REUTERS/Luis Cortes/File Photo

MEXICO CITY (Reuters) -Mexican carrier Aeromexico on Tuesday said its creditors have overwhelmingly approved the company’s restructuring plan as part of its efforts to emerge from bankruptcy.

Aeromexico said in a statement that the voting ended on 7 Jan. and 86% of the creditors who voted backed the plan.

“The conclusion of the voting process and the strong support from the company’s creditors represents a key milestone in Aeromexico’s restructuring process,” the company said.

It also puts Aeromexico in a strong position to “obtain Court approval for the plan”, the company added.

Shares in the Aeromexico, which filed for Chapter 11 bankruptcy protection in the United States last year amid the pandemic, have been wildly seesawing in recent weeks amid speculation about its bankruptcy proceedings.

A meeting of the company’s shareholders is due to be held on Friday, where they will discuss the restructuring plan. The court is then due to consider confirming the plan on 27 Jan., Aeromexico said.

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