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Aeroméxico To Increase Its Operations in October
The month of October will see Aeroméxico operate about 30% more international flights compared to September. With this increase in its operations, the carrier will be operating to 28 destinations in the United States, Canada, Central and South America, the Caribbean, Europe and Asia.
The Mexican airline made public an announcement, in which it details the operations that will be resumed. From Mexico City, the carrier will operate to San José, Costa Rica; Guatemala, Guatemala; Lima, Peru; Medellín and Bogotá, Colombia and Buenos Aires, Argentina. From Guadalajara, Aeroméxico will resume operations to San Francisco, U.S.A.
Finally, the airline will increase the frequencies to its operations to Seoul; Santo Domingo, Dominican Republic; Paris, France; Quito, Ecuador; Sao Paulo, Brazil; Miami and Sacramento.
With these modifications, Aeroméxico will increase its offer of available seat kilometer (ASK) by 31% compared to September, through almost 1,100 international flights.
The Mexican carrier estimates that it will serve around 70 national and international destinations in October, with more than 9,300 scheduled flights.
According to Forbes, Aeroméxico received on Monday an approval to modify most of its aircraft and engine lease contracts for hourly pay agreements. This authorization was made by a New York Southern Court, where the Mexican carrier requested for financial restructuring under Chapter 11 of the U.S. Bankruptcy Law last June.
In a statement sent to the Mexican Stock Exchange, Grupo Aeroméxico SAB de CV, highlighted that this measure will substantially reduce your monthly rental costs.
Agreements between Aeroméxico and 27 different aircraft leasing companies with a coverage of 82 aircraft and 14 spare engines will be reformed. These modifications will allow the airline to change the structure of monthly leasing costs based on the use of the equipment to competitive rates, which will generate significant monthly savings compared to the rates originally contracted.
Before the restructuring process, The Mexican carrier reported that its operating fleet was confirmed by 118 aircraft, 62 from Aeroméxico and 56 more from Connect, without considering 6 Boeing 737 MAX, which are temporarily suspended from operations.
According to América Economía, the airline recently received the first tranche of financing or Debtor in Possession (DIP) Financing for $100 million. This DIP Financing will support the company’s operations in the ordinary course during the restructuring process.
The second tranche will be available for an initial amount of $175 million, subject to fulfillment with various conditions and additional objectives established in the final documentation, from which disbursements may be requested for a minimum amount of $100 million.
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