Aeromexico Reaches Agreement on Monumental Aircraft Fleet Transactions

MEXICO CITY, April 23, 2021 /PRNewswire/ -- Grupo Aeroméxico, S.A.B. de C.V. ("Aeromexico" or the "Company") (BMV: AEROMEX). Aeromexico has reached agreement to increase its fleet with twenty-four (24) new Boeing 737 aircraft, including B737-8 and B737-9 MAX, and four (4) 787-9 Dreamliner aircraft as part of the airline's restructured agreements with the manufacturer and certain lessors to incorporate new aircraft. Other suppliers and financial entities also participated in these transactions, resulting in a comprehensive deal that offers multiple benefits to the carrier.

The addition of the first aircraft is scheduled for this year, with nine (9) offering service beginning this summer season, and the rest arriving in the second half of 2021 and during 2022. These transactions represent a milestone in Aeromexico's transformation for the upcoming years, and their economic terms are highly competitive compared to current market levels.

These transactions make it possible for Aeromexico to modify long-term maintenance contracts and reduce leasing costs of eighteen (18) other aircraft that are part of the current fleet. Aeromexico estimates that reaching this comprehensive agreement will lead to total savings of approximately 2 billion dollars.         

Thanks to the savings, the Company can offer even more competitive fares, guaranteeing the best travel experience for customers in state-of-the-art aircraft with on-ground and in-flight services that only Aeromexico offers.

The comprehensive agreements are subject to the approval of the United States Court for the Southern District of New York, in charge of Aeromexico's Chapter 11 voluntary financial restructuring process.

Andres Conesa, CEO of Aeromexico, stated: "These transactions show the confidence of our employees, customers, lessors, manufacturers, investors, and business partners in the future of Mexico's global airline. It will also give us flexibility to complete other negotiations and put Aeromexico on a strong path to exit Chapter 11 later this year."

The Boeing 737 MAX aircraft stands out for being highly efficient and environmentally-friendly, generating fuel savings of up to 14%, reducing CO2 emissions by 15%, and reducing the noise footprint by up to 40% compared to aircraft of previous generations.

The Boeing 787 Dreamliner is one of the most modern, safe, comfortable, efficient and least polluting long-range aircraft in the global airline industry. It generates savings of up to 23% in fuel consumption and 25% in CO2 emissions.

Aeromexico's current fleet is comprised of 107 aircraft: 47 Embraer 190s, 42 Boeing 737s, and 18 Boeing 787 Dreamliner. 

Aeromexico will continue pursuing, in an orderly manner, its voluntary financial restructuring through Chapter 11, 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, protect and preserve its operations and assets, and implement the necessary adjustments to face the impact 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 

View original content:http://www.prnewswire.com/news-releases/aeromexico-reaches-agreement-on-monumental-aircraft-fleet-transactions-301276157.html

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