Aeroméxico's Plan of Reorganization is Confirmed by the Court
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MEXICO CITY, Jan. 28, 2022 /PRNewswire/ -- Grupo Aeroméxico, S.A.B. de C.V. ("Aeroméxico" or the "Company") (BMV: AEROMEX) informs that the hearing to consider confirmation of the Joint Plan of Reorganization of the Company and its subsidiaries that are debtors in the Company's Chapter 11 voluntary financial restructuring process (the "Plan") has successfully concluded, and the Bankruptcy Court formally announced that it has confirmed the Plan.
Today represents the most important milestone to date for the Company's restructuring process. Aeroméxico will continue working with all its key stakeholders to swiftly emerge from Chapter 11, at which point the corporate resolutions adopted at the Shareholders Meeting held on January 14, 2022 will become fully effective.
Andres Conesa, Company's CEO, stated "Today is a very important day for the Aeroméxico Family. I want to thank all my colleagues for their hard work and dedication; I am very proud to be part of a great team of world class airline professionals. I want to thank our employees and Board for their invaluable support, and to all of our restructuring advisors who did an outstanding job helping us lead our beloved airline through these turbulent times. I want to express my sincere gratitude to Judge Chapman and her team who conducted this process in an exemplary way. Finally, I want to thank all stakeholders and the new investor group for having confidence in Aeroméxico and for giving us wings to fly even higher through the skies of Mexico and the world."
This press release contains certain forward-looking statements that reflect the current views and/or expectations of the Company and its management with respect to its performance, business and future events. We use words such as "believe," "anticipate," "plan," "expect,", "intend," "target," "estimate," "project," "predict," "forecast," "guideline," "should" and other similar expressions to identify forward-looking statements, but they are not the only way we identify such statements. Such statements are subject to a number of risks, uncertainties and assumptions. We caution you that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in this release. The Company is under no obligation and expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
About Grupo Aeromexico: Grupo Aeroméxico, S.A.B. de C.V. is a holding company whose subsidiaries are engaged in commercial aviation in Mexico and the promotion of passenger loyalty programs. Aeromexico, Mexico's global airline, has its main operations center in Terminal 2 of the Mexico City International Airport. Its destination network has reach in Mexico, the United States, Canada, Central America, South America, Asia and Europe. The Group's current operating fleet includes Boeing 787 and 737 aircraft, as well as the latest generation Embraer 190. Aeromexico is a founding partner of SkyTeam, an alliance that celebrates 20 years and offers connectivity in more than 170 countries, through the 19 partner airlines. Aeromexico created and implemented a Health and Hygiene Management System (SGSH) to protect its clients and collaborators at all stages of its operation.
SOURCE Grupo Aeroméxico, S.A.B. de C.V.
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