Aeromexico says U.S. court approves $1 billion financing bid

Industry: Aviation    2020-08-20

Aeromexico said on Wednesday a New York court had approved the bid it made last week to secure debtor-in-possession (DIP) financing of up to $1 billion as the Mexican airline goes through bankruptcy proceedings in the United States.

“The DIP financing will grant Aeromexico sufficient liquidity to restructure satisfactorily under Chapter 11 proceedings,” the company said in a statement.

Source: Reuters.com