Monday, 26 Oct 2020

Aeromexico sets investor meetings to discuss debt overhaul

MEXICO CITY (Reuters) – Mexico’s Aeromexico (AEROMEX.MX) on Monday scheduled meetings with investors to discuss debt restructuring after becoming the third large Latin American carrier to file for Chapter 11 bankruptcy protection last week.

Management of the airline part-owned by Delta Air Lines Inc (DAL.N) proposed focusing on the modification of payment terms for stocks and other certificates in the meetings now planned for July 20, according to a statement sent to the Mexican stock exchange.

Last week, bank CIBanco said Aeromexico had failed to make interest payments worth some 1.01 million pesos ($45,000) on local stock certificates AEROMEX 01119.

Shares in Aeromexico closed down 2.13% on Monday.

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