Aeromexico delivers final valuation materials in key case milestone

Chicago, Sept. 10 – Grupo Aeromexico, SAB de CV announced that it delivered to its DIP lenders the final valuation materials and the refinancing qualification certification in accordance with its DIP credit agreement, according to a press release on Friday.

The delivery of the final valuation materials “is a key milestone in the company’s Chapter 11 proceedings,” the company stated.

Under the DIP facility, the tranche 2 DIP lenders have the option to convert their loans into equity of the reorganized company at the value set forth in the final valuation materials. It was earlier reported that this was a key piece of information that was needed for the process to move forward.

The lenders must send a notice of their election on or before Sept. 20.

Aeromexico then intends to file a plan of reorganization consistent with that election no later than Oct. 8.

The company intends to continue to participate in mediation before Judge Sean H. Lane of the U.S. Bankruptcy Court for the Southern District of New York so as to have a forum for key stakeholders to continue discussing the important next steps in Aeromexico's Chapter 11 cases.

Grupo Aeromexico, a holding company for commercial aviation, is based in Mexico City. The company filed Chapter 11 on June 30, 2020 in the U.S. Bankruptcy Court for the Southern District of New York under case number 20-11563.

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