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Aeromexico Flies into Bankruptcy Due to "Unprecedented" COVID-19 Challenges

Lou Whiteman, The Motley Fool
·2-min read
Aeromexico Flies into Bankruptcy Due to "Unprecedented" COVID-19 Challenges

Mexican airline Grupo Aeromexico SAB de CV filed for Chapter 11 bankruptcy in the United States late Tuesday, becoming the third major Latin American airline to seek bankruptcy protection due to the COVID-19 pandemic. Aeromexico in a statement said it intends to use the Chapter 11 process to reorganize its operations and strengthen its financial position. "Our industry faces unprecedented challenges due to significant declines in demand for air transportation," Aeromexico CEO Andrés Conesa said in a statement.

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