Shares in Mexican airline Aeromexico fell more than 5% after the market open Tuesday after the company said it had requested permission from the country's securities regulator to initiate a share buyback program as part of its move from the national market onto a US stock exchange. Aeromexico emerged from bankruptcy in March with a $5b investment plan and changes to its fleet, coming after travel demand tanked in 2020 due to the coronavirus pandemic. Late in June, shareholders voted to back the exit from the main Mexican stock exchange as part of the company's restructuring. As part of the restructuring, "Old shares are canceled, and the new shares of a company are issued. Mexican law requires delisting as part of that process," said Katie Coleman, co-chair of law firm Hughes Hubbard & Reed's corporate reorganization and bankruptcy practice, which participated in the process. After exiting Mexico, the airline planned to list on the New York Stock Exchange or Nasdaq, according to its so-called registration rights agreement filed in April. Aeromexico said in a statement late Monday that it will list new shares on the "Stock Exchange for the State of New York," though an Aeromexico spokesman did not immediately respond to a request for comment Tuesday as to whether the company was referring to the New York Stock Exchange or the Nasdaq.<br/>
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Both China Airlines and its subsidiary, Mandarin Airlines, will implement a piece-based method for luggage pricing for checked bags on all their international flights worldwide from Aug. 2, China Airlines announced Tuesday. Beginning Aug. 2, both airlines will change the weight-based policy they have been using for international flights to and from Europe, Oceania, and within Asia to the piece-based system that has long been used for their transpacific routes to and from the US and Canada, according to the release, CNA reported. Under the new baggage policy, there will be universal free baggage allowances for different flight classes. Economy Class passengers are allowed two pieces that weigh as much as 23kg each and 46kg in total, while Premium Economy Class passengers are allowed two pieces that weigh as much as 28kg each and 56kg in total, which is apparently a better deal compared to other carriers’ luggage pricing systems, per CNA.<br/>