Aeromexico is planning to return up to 19 leased aircraft as part of an effort to reorganize its operations, occasioned by its recent filing of Chapter 11 bankruptcy in the U.S. On June 30th, Aeromexico commenced the voluntary process of sustainable financial restructuring to address the impact of COVID-19 that has significantly hurt the airline and indeed, the entire aviation industry.
The Mexican carrier is to return to lessors five Boeing 737-800, five Boeing 737-700, and nine Embraer E170 aircraft. Additionally, the airline plans to return four General Electric CF34-8E5 engines.
An Aeromexico Boeing 787. Photo by Karam Sodhi | AeroNewsX
“Our industry faces unprecedented challenges due to significant declines in demand for air transportation,” said Andres Conesa, Chief Executive Officer of Aeromexico. He further added that: “We are committed to taking the necessary measures so that we can operate effectively in this new landscape and be well prepared for a successful future when the COVID-19 pandemic is behind us. We expect to utilize the Chapter 11 process to strengthen our financial position, obtain new financing and increase our liquidity, and create a sustainable platform to succeed in an uncertain global economy.”
Aeromexico has its main hub in Mexico City, with secondary hubs in Guadalajara and Monterrey. It is one of the founding members of the SkyTeam airline alliance and has a fleet of Boeing 737, 787, and Embraer E190 aircraft. The airline has also been impacted by the grounding of the Boeing 737 MAX variants with six of the type grounded in Mexico City. The airline had two MAX variants (8 and 9) on order.