On Tuesday June 30, Mexican-based airline company Aeromexico filed for bankruptcy protection in the United States. The company chose to apply to restructure under Chapter 11, which allows it to keep flying.
Demand for air travel has plummeted due to the Covid-19 pandemic. As of March, Aeromexico declared it would start operating cargo-only flights.
"Our industry faces unprecedented challenges due to significant declines in demand for air transportation," CEO Andrés Conesa said in a statement to CNN. "We are committed to taking the necessary measures so that we can operate effectively in this new landscape and be well prepared for a successful future when the Covid-19 pandemic is behind us."
The company will address the restructuring of its capital structure, according to it...