Aeromexico files for Chapter 11 bankruptcy protection

Aeroméxico said Tuesday it has filed for voluntary restructuring under chapter 11 of the US bankruptcy code to confront the crisis brought on by the coronavirus pandemic. Like other airlines, Aeromexico is reeling from the impact that the pandemic has had on the global travel industry. The carrier’s passenger traffic fell by more than 90% in April and in May, compared with the year-earlier months. “Our industry faces unprecedented challenges derived from a significant reduction in passenger demand on a global level,” the company said in a filing with the Mexican stock exchange. “With the chapter 11 restructuring process, we will strengthen our financial position and increase our liquidity, at the same time creating a sustainable platform to allow us to successfully weather the current global economic uncertainty,” it added. Aeromexico said its operations are continuing, and that in July the airline will double its number of domestic flights and quadruple the number of international flights from June levels.<br/>