MEXICO CITY – Mexican airline Aeromexico said late on Monday a bankruptcy court has approved its commitment letters regarding exit financing and set a confirmation hearing for the plan for Jan. 18.
Aeromexico filed for Chapter 11 bankruptcy protection in the United States last year, and has been undergoing a restructuring process with creditors and investors.
“The joint proposal has the support of our strategic partner Delta Air Lines and a solid group of long-term Mexican investors to meet requirements for foreign investment,” Aeromexico said in a statement filed to Mexico’s stock exchange.
“Aeromexico will continue to work with all key stakeholders to obtain court approval and continues to work to exit the restructuring process under Chapter 11 as soon as possible.”
(Reporting by Daina Beth Solomon; Editing by Subhranshu Sahu)
