Aeroméxico reported that the eight classes of creditors have voted on its restructuring plan under Chapter 11 of the US Bankruptcy Code, with approximately 88% of the amount of credits showing in favor.
In a statement sent to the Mexican Stock Exchange (BMV), the company reported that the vote was achieved through the announcement of the Bankruptcy Court on the issuance of an order in favor of a motion presented by Aeroméxico, in which asks that certain parties be required to vote their credits to accept the restructuring plan.
“As a result, all eight classes of creditors entitled to vote on the plan (including the common creditors of Aerovías Empresa de Cargo, SA de CV) have voted to accept the Plan, with approximately 88% of the amount of credits voting in favor,” the company said in the statement.
In previous weeks, it had been announced that 86% of creditors had voted in favor of the plan, taking into account the vote of seven of the eight existing classes.
For next Thursday, January 27, Aeroméxico will have a hearing before the Court of the Southern District of New York to consider the confirmation of its restructuring plan, which was postponed from January 18.
The airline comes from several agreements taken at a shareholders’ meeting held on January 14, among which is a capital increase of 4,266 million dollars, represented by the issuance of more than 682 billion common shares series only.
The new shares will be paid for through the capitalization of unsecured and preferred liabilities of the airline’s creditors that, together, represent more than 3,438 million dollars, and through new investments of 828 million dollars, coming from existing and new investors.
