Aeroméxico receives a joint proposal from its key stakeholders

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Nov 12, 2021, 07:39 ET

MEXICO CITY, Nov. 12, 2021 /PRNewswire/ -- Grupo Aeroméxico, S.A.B. de C.V. ("Aeroméxico" or the "Company") (BMV: AEROMEX) informs that today it received a joint proposal (the "Alliance Proposal") from its lenders under Tranche 2 of our DIP financing facility and from certain existing creditors and new money investors with whom the Company was prepared to enter into commitment papers upon court approval thereof. The Alliance Proposal has the support of our strategic partner Delta Air Lines and provides an implementable solution, through a solid group of long-term Mexican investors, to comply with foreign ownership requirements. The Board of Directors of the Company has approved, among other matters, instructing the Company's restructuring advisors to prepare, in coordination with advisors for the key stakeholders, a revised version of the Chapter 11 Joint Plan of Reorganization (the "Plan") and the disclosure statement with respect to the Plan (the "Disclosure Statement"), including any supplements and exhibits related thereto, reflecting the terms of the Alliance Proposal.

The hearing to approve the Disclosure Statement and the hearing to confirm the Plan have been adjourned to a new date to be set in due course by the Bankruptcy Court.

The foregoing represents a key milestone under the Company's restructuring process. Aeroméxico will continue working with all of its key stakeholders to finalize and file the Plan Documents, obtain Court approval of the Plan, solicit votes in favor of the Plan once the Disclosure Statement is approved and emerge from the Chapter 11 process as expeditiously as possible.

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 Aeromexico S.A.B. de C.V.