Aeromexico makes progress with union collective bargaining agreements

By Sarah Lizee

Olympia, Wash., Dec. 30 – Grupo Aeromexico, SAB de CV said significant progress has been made in collective bargaining agreement negotiations with its unions.

As of Tuesday, the company has satisfactorily concluded negotiations with the Sindicato de Trabajadores de la Industria Aeronáutica, Comunicaciones Similares y Conexos de la República Mexicana (STIA) and with the Sindicato Nacional de Trabajadores al Servicio de las Líneas Aereas, Transportes, Servicios, Similares y Conexos Independencia (Independencia).

Likewise, negotiations with the Asociacion Sindical de Sobrecargos de Aviacion de Mexico (ASSA) are continuing in the best conditions, aligned with the objectives required to access the financing that will give viability to the company, Grupo Aeromexico said.

The company noted that ASSA, Independencia and STIA unions complied with the optimization and staff reduction program in October and November necessary for the company to continue its restructuring process.

Grupo Aeromexico said it continues in negotiations with the Asociacion Sindical de Pilotos Aviadores de Mexico (ASPA) seeking to achieve the necessary conditions established in the restructuring plan.

The concluded agreements, along with those that are in under negotiation, are necessary for the company to comply with certain commitments and objectives required by the debtor-in-possession lenders under the senior DIP credit facility.

The company will continue working in a coordinated manner with its unions in order to comply with the necessary conditions to request the next disbursement under the second tranche of the DIP facility. The remaining disbursements are subject to the fulfillment of additional goals, conditions and objectives.

“The favorable outcome of the negotiations with the Independencia and STIA unions, as well as the progress with the flight attendants union ASSA, represents an extremely important milestone to have access to the next stages of DIP financing under our restructuring process,” Andres Conesa, chief executive officer of Aeromexico, said in the release.

Aeromexico said it will continue pursuing its financial restructuring under the Chapter 11 process, while continuing to operate and offer services to its customers and contracting from its suppliers the goods and services required for operations.

Grupo Aeromexico, a holding company for commercial aviation, is based in Mexico City. The company filed Chapter 11 on June 30, 2020 under case number 20-11563.

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