Subject: BCY
Aeroméxico Delivers Final Valuation Materials
MEXICO CITY, Sept. 10, 2021 /PRNewswire/ -- Grupo Aeroméxico, S.A.B. de C.V. ("Aeroméxico" or the "Company") (BMV: AEROMEX) informs that, in compliance with its existing, and fully disbursed, super-priority debtor-in-possession senior secured loan agreement approved by the United States Bankruptcy Court for the Southern District of New York presiding over Aeroméxico's Chapter 11 voluntary financial restructuring process, the Company has delivered to its DIP Lenders the Final Valuation Materials and the Refinancing Qualification Certificate in accordance with the DIP credit agreement.
The delivery of the Final Valuation Materials is a key milestone in the Company's Chapter 11 proceedings. 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. The lenders must send a notice of their election on or before September 20, 2021. Aeroméxico then intends to file a Plan of Reorganization consistent with such election no later than October 8, 2021.
The Company intends to continue to participate in mediation before Judge Sean H. Lane of the United States 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 Aeroméxico's Chapter 11 cases.
Aeroméxico will continue pursuing, in an orderly manner, its voluntary financial restructuring through Chapter 11, while continuing to operate and offer services to its customers and contracting from its suppliers the goods and services required for operations. The Company will continue to strengthen its financial position and liquidity, protect and preserve its operations and assets, and implement necessary adjustments to mitigate the effects of COVID-19.
This press release contains certain forward-looking statements that reflect the current views and/or expectations of the Company and its management with respect to its performance, business and future events. We use words such as "believe," "anticipate," "plan," "expect,", "intend," "target," "estimate," "project," "predict," "forecast," "guideline," "should" and other similar expressions to identify forward-looking statements, but they are not the only way we identify such statements. Such statements are subject to a number of risks, uncertainties and assumptions. We caution you that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in this release. The Company is under no obligation and expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. |
About Grupo Aeromexico: Grupo Aeroméxico, S.A.B. de C.V. is a holding company whose subsidiaries are engaged in commercial aviation in Mexico and the promotion of passenger loyalty programs. Aeromexico, Mexico's global airline, has its main operations center in Terminal 2 of the Mexico City International Airport. Its destination network has reach in Mexico, the United States, Canada, Central America, South America, Asia and Europe. The Group's current operating fleet includes Boeing 787 and 737 aircraft, as well as the latest generation Embraer 190. Aeromexico is a founding partner of SkyTeam, an alliance that celebrates 20 years and offers connectivity in more than 170 countries, through the 19 partner airlines. Aeromexico created and implemented a Health and Hygiene Management System (SGSH) to protect its clients and collaborators at all stages of its operation. |
SOURCE Grupo Aeromexico S.A.B. de C.V.
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