Aeromexico Receives Approval For Bankruptcy Exit

A U.S. bankruptcy court judge has approved Aeromexico's reorganization plan and paved the way for the airline to exit Chapter 11 bankruptcy protection before the end of the first quarter.

Judge Shelley Chapman of the U.S. Bankruptcy Court for the Southern District of New York approved the plan from the bench late on Friday after a two-day confirmation hearing. Her approval followed 11th-hour settlements to objections from the unsecured creditors committee, Invictus Global Management, and the ad hoc group of OpCo Creditors, the last of which came down minutes before the judge issued her decision.

"I wanted this airline out of Chapter 11 ... and have the folks in Mexico know that their flagship carrier had safely made its was through Chapter 11," Chapman said. "We’re all going to keep our fingers crossed that Covid isn’t going to throw us any more curvebal