By The Istanbul Post With Anadolu Agency
July 1, 2020 11:49 pmNEW YORK, NY
Mexico’s flagship airline has announced that the company had applied to begin a voluntary process of financial restructuring under Chapter 11 in the US due to coronavirus impact on the sector.
Aeromexico assured Tuesday in a statement that the process will not affect its services to costumers.
“Our industry faces unprecedented challenges due to significant declines in demand for air transportation,” CEO Andres Conesa said, adding: “We are committed to taking the necessary measures so that we can operate effectively in this new landscape and be well prepared for a successful future when the pandemic is behind us.”
Aeromexico is the latest Latin American airliner to file for Chapter 11 in the US, following Chile’s LATAM and Colombia’s Avianca.
Many airlines have been forced to limit their services amid coronavirus outbreak due to restrictions and lack of demand.
The US is the worst-hit country by the pandemic with more than 2.63 million cases and nearly 127,500 fatalities. In all, more than 720,600 recoveries have been recorded. Mexico has so far reported more than 226,000 cases, over 27,700 fatalities, and an excess of 174,500 recoveries.
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