Aeromexico’s debt with unsecured creditors could reach US$4 billion

MEXICO – Grupo Aeromexico's debt with unsecured creditors is estimated to be between US$3.2 billion and US$3.9 billion, according to a document filed by the company with the Southern District Court of New York.

These unsecured creditors include several Mexican airports such as Cancun, Guadalajara, Monterrey and Mexico City, as well as Aeropuertos y Servicios Auxiliares, the Mexican Airline Pilots Union Association (ASPA) and at least 30 other companies.

The main debt is owed by Aeroméxico, for an estimated amount between US$2,780 million and US$3,386 million, followed by the subsidiary Aeroméxico Connect, which only owes between US$423 million and US$517 million, while Aeroméxico Cargo has a debt of between US$5 million and US$6 million.

The company is currently negotiating these debt claims with its unsecured creditors, and Aeromexico anticipates that the total amount will be reduced, reclassified, disqualified and eliminated.

Source: A21