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Aeromexico Cuts Deal With Creditors, Nears Bankruptcy Exit

  • Airline begins court hearing in New York on debt-cutting plan
  • Main unsecured creditor panel ends fight over bankruptcy exit
Aeromexico airplanes at Benito Juarez International Airport in Mexico City.

Aeromexico airplanes at Benito Juarez International Airport in Mexico City.

Photographer: Luis Antonio Rojas/Bloomberg
Updated on

Grupo Aeromexico SAB cut a last minute deal with the main group of its unsecured creditors, easing the way for the airline to seek final approval to exit bankruptcy from a judge in New York.

The official committee of unsecured creditors in the company’s Chapter 11 case agreed to join more senior debt holders who back the plan, including Apollo Global Management Inc. and Delta Air Lines Inc. In return, unsecured creditors will get a note for $40 million, contingent on future performance.