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In the airline industry’s continuing race to display commitment to sustainability, Delta has unveiled an array of new cabin products with environmental benefits including a reduction in the use of plastic. Starting this month, Delta will focus on reducing single-use plastic consumption by approximately 4.9m pounds per year, roughly the weight of 1,500 standard sized cars. The reduction will be achieved through the use of new bamboo utensils, amenity kits, eye masks made of regenerated cotton and sustainably grown wine packaged in aluminum cans instead of plastic containers. The new amenity kits, to be introduced on board starting in February, will eliminate single-use plastic items such as zippers and packaging, reducing plastic use by up to 90,000 pounds annually. Inside each kit is a bamboo toothbrush, an eye mask made with regenerated cotton and natural lip balm that, starting in April, will be wrapped in aluminum packaging. Yet, Delta has been removed from the Dow Jones Sustainability North America Composite Index, a list it had been on since April 2013. The airline was dropped in November. Neither Delta nor Index spokespeople will say why. Also in November, American Airlines replaced Delta on the list. “The DJSI North America represents the top 20% of the largest 600 North American companies in the S&P Global broad market index based on long-term economic, environmental and social criteria,” S&P Dow Jones Indices said. “For existing constituents, a 30% buffer rule exists to minimize turnover,” the statement said. “So if an existing constituent is removed from the index, its S&P Global (Environmental, Social, and Governance) Score was no longer in the top 30% among its industry peers.” A 28-page methodology summary notes that each quarter, companies whose scores decrease by more than 0.6 points can be removed from the index.<br/>

Aeromexico Friday won court approval of its restructuring plan after the airline struck a deal with the remaining holdouts among its creditors, clearing the way for it to emerge from bankruptcy with new controlling shareholders. "I could not be more pleased to tell you the plan of reorganization is confirmed," US Bankruptcy Judge Shelley Chapman said soon after the agreement to pay a settlement to the creditors was announced during a court hearing. Her approval of the plan allows Aeromexico, one of three major Latin American airlines to seek court protection from creditors during the pandemic, to complete the bankruptcy process, which has been ongoing since June 2020. Aeromexico shares were up 17% on Friday, although those gains did not appear to reflect the creditor deal and final approval, which came as the market was about to close. The plan provides for new infusions of capital into Aeromexico. Apollo Global Management, a frequent investor in distressed companies, will be the largest shareholder. Delta, an existing equity holder, is expected to have a 20% stake in the company once the plan is implemented. The deals struck on Friday brought in support from a group of junior creditors who had opposed what they argued was overly beneficial treatment for Delta and four Mexican individual investors. The settlement came a day after Aeromexico announced another deal with the official committee representing unsecured creditors in the bankruptcy.<br/>