Aeromexico’s plan of reorganization is confirmed by court

Chicago, Jan. 28 – Grupo Aeromexico, SAB de CV informed the market that its Chapter 11 plan of reorganization has been confirmed by the court, according to a late evening press release.

The press release said that “Aeromexico will continue working with all its key stakeholders to swiftly emerge from Chapter 11, at which point the corporate resolutions adopted at the shareholders meeting held on Jan. 14, 2022 will become fully effective.”

The plan confirmation hearing was scheduled to begin on Jan. 27.

In the last announcement from the company, it said that it had received approval from all eight classes of creditors entitled to vote on the plan with approximately 88% by amount of claims voting in favor.

The company was granted a court order to require certain parties to vote their claims to conclude that part of the process.

The result of the enforced court order was that it raised the approval to all eight classes voting in favor from a previous seven of the eight.

As previously reported, the official committee of unsecured creditors had objected to the plan and questioned the voting results, saying they should be “closely scrutinized.”

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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