MEXICO CITY, June 19, 2020 /PRNewswire/ -- Due to the economic crisis resulting from the global Covid-19 pandemic, the global aviation industry has been deeply affected, a situation that will continue in the upcoming months. We continue operating, offering the best service to our customers following health protocols with the highest international standards and, in parallel, we are evaluating alternatives to move towards a better financial position after the impact of this crisis faced by all airlines across the world.
During the last four months, we have proactively taken constructive actions to protect and preserve the ongoing business and cash flow, always prioritizing customer service, with the full support and solidarity of all our employees, key suppliers and service providers.
The Company hereby informs that it has not initiated, nor has it made the decision to initiate, a restructuring procedure under Chapter 11 of the Unites States Bankruptcy Code. We are currently identifying additional sources of financing to strengthen operating cash flows. We are also analyzing different alternatives to successfully achieve, in the short and medium term, an orderly restructuring of financial commitments, without affecting or disrupting operations. The above in full coordination with unions, creditors, lessors and in compliance with the obligations derived from our licenses and concessions.
Every member of the great team that makes up Aeroméxico is certain that with the support of investors, financial creditors and key suppliers, we will emerge stronger, maintaining at all times passenger rights, with the business operating as a going concern, public service and source of employment.
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. Grupo Aeroméxico 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 Aeromexico, S.A.B. de C.V. (BMV: AEROMEX) 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, operates more than 570 daily flights and its main hub is in Terminal 2 at the Mexico City International Airport. Its destinations network features more than 80 cities on three continents, including 42 destinations in Mexico, 17 in the United States, 15 in Latin America, 4 in Canada, 5 in Europe and 2 in Asia.
The Group's operating fleet of 119 aircraft is comprised of Boeing 787 and 737 jet airliners and next generation Embraer 170 and 190 models. In 2012, the airline announced the most significant investment strategy in aviation history in Mexico, to purchase up to 100 Boeing aircraft including 90 MAX B737 jet airliners and 10 B787-9 Dreamliner's.
As a founding member of the SkyTeam airline alliance, Aeromexico offers customers more than 1,000 destinations in 179 countries served by the 19 SkyTeam airline partners rewarding passengers with benefits including access to 790 premium airport lounges around the world. Aeromexico also offers travel on its codeshare partner flights with Delta Air Lines, Air France-KLM, Avianca, Copa Airlines and WestJet, with extensive connectivity in countries like the United States, Brazil, Canada, Colombia and Peru.
SOURCE Grupo Aeromexico, S.A.B. de C.V.