China News Service, July 1st, according to a report by the "Central News Agency", on June 30 local time, one of the largest airlines in Latin America, Aeromexico, announced that the "unprecedented impact" due to the new crown epidemic has been in The United States applied for bankruptcy protection.
Aeromexico said in a statement: "We have initiated a voluntary process in accordance with Chapter 11 of the US Bankruptcy Law to conduct a financial reorganization. This legal process will not affect the airline's operations."
According to reports, after the two major Latin American airlines, Chilean South American Airlines and Columbia Airlines, declared bankruptcy in May, Aeromexico was also not affected by the epidemic.
Andres Conesa, the chief executive of Aeromexico, said: "We will strive to take the necessary measures to voluntarily enter the Chapter 11 procedures of the Bankruptcy Law to become stronger and recover faster."
The legal process in Chapter 11 of the US Bankruptcy Law allows companies to conduct financial restructuring and operate under the supervision of US courts, while protecting them from creditor claims and allowing them to continue operating.
According to estimates by the International Air Transport Association, major airlines in Latin America will take up to three years to restore flights and passengers to pre-epidemic levels.