Mexico City, Mexico — Within the framework of its financial restructuring, Aeroméxico announced a new group of investors, which are being represented by firms Akin Gump Strauss Hauer & Feld LLP and the Milbank LLP fund.
The new groups would inject more capital and replace Apollo Global Management in order to get out of Chapter 11 bankruptcy, which they filed last year.
Its new restructuring plan, if approved, includes the sale of $1.7 billion USD in exit financing that would see it leave its Chapter 11 status.
Aeroméxico presented its new restructuring plan before the New York court on October 1. If successful, the company could restructure and negotiate with creditors without ceasing to operate.
Source: El Financiero