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."<br/>
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China Eastern Airlines has taken part in formally establishing a new state-owned logistics giant to bolster domestic and global supply chains following recent worldwide disruptions, state-run media outlets reported on December 6. China Logistics Group has three strategic investors, namely the airline’s parent China Eastern Air Holding along with the parent firms of Shanghai-based multinational conglomerate COSCO Shipping and Hong Kong-based port service provider China Merchants Group, which will respectively hold stakes in the new entity of 10%, 7.3%, and 4.9%. China’s State-Owned Assets Supervision and Administration Commission, a special commission directly under the State Council, and China Chengtong Holdings Group, which SASAC in any case centrally manages, will evenly split the remaining shares. The move comes as China Eastern has also been funnelling resources into its own logistics bases in recent months, such as developing a passenger and cargo hub in Huanggang, the closest airport to which is Wuhan, a key base for the carrier, and building cargo and logistics infrastructure and connectivity in Sanya in the southern province of Hainan. During the course of China's 14th Five-Year Plan period (2021-25), China Logistics Group will become a “global supply chain organiser" by developing international trade links and freight services as well as cross-border e-commerce, state media proclaimed.<br/>