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Aeromexico Gets Exit Proposal as Judge Grants Deadline Extension

June 22, 2021, 4:44 PM

Grupo Aeromexico SAB has received a non-binding proposal for the repayment of the debtor-in-possession loan it received from Apollo Global Management Inc.

Timothy Graulich, a lawyer for the airline, said in a hearing Tuesday before a U.S. Bankruptcy Court in New York that the proposal is being taken seriously by the company and stakeholders. Even so, the offer will require a lot of work to turn it into something actionable, he said.

The proposal resulted from a marketing process to pursue exit financing and to gauge an accurate valuation of the company once it emerges from bankruptcy. Under the ...

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