June 22, 2020
Mexican airline Aeroméxico said Friday that it is considering ways to carry out an "orderly restructuring" of its short- and medium-term debt and added that it is looking for additional sources of financing.
Shares in Aeroméxico fell 4.58% to MXN6.69 ($0.30) after local newspaper El Financiero reported that the airline was preparing to file for Chapter 11 bankruptcy in the United States. The newspaper identified Citi and White & Case as Aeroméxico's advisers on the bankruptcy proceedings.
Mexican airline says it is looking for more financing to avoid service disruptions