Aeromexico reaches agreement with Unions

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Jan 28, 2021, 08:25 ET

MEXICO CITY, Jan. 28, 2021 /PRNewswire/ -- Grupo Aeroméxico, S.A.B. de C.V. ("Aeromexico" or the "Company") (BMV: AEROMEX) announces that it has reached satisfactory agreements with the Asociación Sindical de Pilotos Aviadores de México ("ASPA") and the Asociación Sindical de Sobrecargos de Aviación de México ("ASSA"), during the restructure of their Collective Bargaining Agreements. The agreements, approved yesterday by personal and direct vote of the Company's pilots and flight attendants, are essential to face the adverse effects caused globally to the airline industry by the COVID-19 pandemic and shall be formalized in the following days.

The results achieved during the negotiations were necessary for the Company to meet certain commitments and objectives required by the DIP lenders under the Senior Debtor in Possession Credit Facility ("DIP Financing"), obtained within the Company's voluntary financial restructuring process.

The Company recognizes the important effort that the flight attendants of ASSA and pilots of ASPA have made to face the negative effects of the pandemic and will continue to work in a coordinated manner with the unions' representatives to formalize the agreements reached.

Aeromexico also recognizes the support of its unionized employees of the Sindicato de Trabajadores de la Industria Aeronáutica, Comunicaciones Similares y Conexos de la República Mexicana (STIA) and the Sindicato Nacional de Trabajadores al Servicio de las Líneas Aéreas, Transportes, Servicios, Similares y Conexos (Independencia), with whom the Company reached satisfactory agreements last December, which was communicated previously. Likewise, the Company highlights the efforts of non-unionized employees, as well as the Mexican Government for accompanying the airline throughout this process.

The Company will continue working in the following days on the process to comply with the conditions and obligations established in the Credit Agreement, in order to request the next disbursement under Tranche 2 of the DIP Financing.

Aeromexico will continue pursuing, in an orderly manner, the voluntary process of its financial restructuring under the Chapter 11 process, 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, protecting and preserving the operation and assets, and implementing the necessary adjustments to face the impact derived from 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.

www.aeromexico.com www.skyteam.com

SOURCE Grupo Aeroméxico, S.A.B. de C.V.