Aeromexico Announces Decision Released by the Federal Board of Conciliation and Arbitration
MEXICO CITY, Aug. 21, 2013 /PRNewswire/ -- Grupo Aeromexico S.A.B. de C.V. (BMV: AEROMEX), the largest global airline in Mexico, has announced that on August 20, 2013 the Federal Board of Conciliation and Arbitration released its decision related to the Collective Dispute of Economic Nature proceedings which the Company had initiated on April 10, 2013. This arbitration award establishes a modification of the Collective Contract Agreement between Aeromexico and the Flight Attendants union, "Asociacion Sindical de Sobrecargos de Aviacion de Mexico" (ASSA), which will apply to all new flight attendant hires, effective immediately.
The contractual conditions for newly hired flight attendants will be more competitive relative to the Mexican airline industry. The modification determined by the arbitration award will also enable the Company to reduce its labor costs as required in the Collective Dispute of Economic Nature procedures.
As a result of this decision, Aeromexico will resume its hiring process for new flight attendants in order to continue its short and medium term growth plan.
About Grupo Aeromexico
Grupo Aeromexico, S.A.B. Ltd., is a holding company with subsidiaries that are engaged in commercial aviation in Mexico as well as the promotion of passenger loyalty programs. The Company has a fleet of Boeing 777, 767, 737 and the latest models of Embraer 145, 170 and 190. Grupo Aeromexico began an important expansion plan 2011 which includes the incorporation of 20 new aircraft and properties over the next 24 months. In 2012, Aeromexico announced that it signed a letter of intent to purchase 100 Boeing aircraft, 90 Boeing 737 MAX and 10 Boeing 787-9 Dreamliner; the largest investment program in Mexican aviation history.
Grupo Aeromexico operates its main hub out of Terminal 2 in the Mexico City International Airport. The Group's airlines operate more than 600 daily flights to different cities in Mexico, the United States, Canada, Central and South America, as well as Europe and Asia.
Aeromexico is a founding member of SkyTeam, the global airline alliance comprised of the following 19 airlines: Aeroflot, Aerolineas Argentinas, Air Europa, Air France, Alitalia, China Airlines, China Eastern, China Southern, CSA Czech Airlines, Delta Air Lines, Kenya Airways, KLM Royal Dutch Airlines, Korean Air, Middle East Airlines, Saudia, TAROM Romanian Air Transport, Vietnam Airlines and Xiamen Air. SkyTeam offers all partner airline passengers a large global network with more destinations and frequencies, and improved connectivity. Passengers can accrue and redeem miles with the different partners' loyalty programs and enjoy the convenience provided at 525 airport lounges worldwide. SkyTeam offers its 552 million annual passengers more than 15,000 daily flights to 1,000 destinations in 187 countries.
SOURCE Grupo Aeromexico
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