Grupo Aeroméxico, as part of the airline’s strategy starting 11 December 2021, will extend its operations at Mexico City International Airport to Terminal 1. The Company will initially operate 20 daily departures from T1 and will continue to operate from Terminal 2. Aeroméxico will launch an extensive communication campaign through all its official channels. It will relocate operations of nine domestic routes to T1 including: Campeche, Durango, Los Mochis, Matamoros, Nuevo Laredo, Reynosa, Tampico, Zacatecas, and Zihuatanejo, as well as offering lounge access to eligible customers departing from T1. Aaron Murray, Aeromexico’s Chief Commercial Officer commented: “Having operations in both terminals at Mexico City International Airport will allow us to offer our customers more flight options and cutting-edge service. This announcement is just the beginning of our expansion to further our strategy of enhancing our leading position in Mexico City. We want to thank the AICM for all their support and we will continue to work closely to secure a smooth expansion of our operations.”<br/>
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Garuda Indonesia needs at least $1b of additional funds to cut debt and stay afloat, as the government says it could give up its majority control of the troubled flag carrier. Garuda is currently in talks with creditors to restructure $6.3b worth of debt and expects to reach an agreement in Q2 2022, according to Kartika Wirjoatmodjo, a deputy minister at Indonesia’s State-Owned Enterprises Ministry. The state-controlled airline has prepared several options in the debt negotiations, including turning to instruments such as mandatory convertible bonds or zero-coupon bank loans. “We are negotiating with many parties with different needs, so their preferences vary,” Wirjoatmodjo, who oversees state transport companies, said Monday. “I have to emphasize that the government is not looking to bankrupt Garuda. What we are looking for is debt settlement either outside court proceedings or through court proceedings.” Once a debt agreement is in place, Garuda will start looking for ways to raise $1bto repay its liabilities and for working capital. With such high funding needs, the government is now choosing to be realistic and open to the possibility of private investors becoming majority owners. “We are reaching out to major hub players,” he said. The airline must slash its debt by 70%-80% in order to survive, he said. The company’s latest available financial reports show that Garuda had negative equity of $2.8b at the end of June.<br/>