October 13, 2020
A bankruptcy judge in New York has approved a $1 billion debtor-in-possession (DIP) loan for Aeroméxico, a step that ensures the Mexican airline can make debt payments "in an orderly fashion," according to a securities filing on Friday.
Aeroméxico can access $275 million from the loan from US investment management firm Apollo Global Management now that it has legal approval, followed by additional withdrawals for at least $100 million each, the airline said in the filing.
"The future exercise of
Mexican airline gets permission to take a $1 bln DIP loan from US investment manager Apollo