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Mexico’s Aeromexico rents nine Boeing planes in agreement with Air Lease

FILE PHOTO: An Aeromexico Boeing 737 MAX 9 fuselage, part of the new aircraft incorporated into its fleet, is pictured at Benito Juarez International Airport in Mexico City, Mexico, on July 14, 2021. The photo was taken on July 14, 2021. REUTERS / Luis Cortes / Photo archive

March 25, 2022

MEXICO CITY (Reuters) – Mexican airline Aeromexico has reached an agreement to lease nine Boeing aircraft, the Air Lease Corporation announced on Friday, expanding its carrier fleet as it exits the Chapter 11 bankruptcy.

Air Lease will provide Aeromexico with two new 737-8 and seven new 737-9, which will arrive between July 2022 and August 2023, the aircraft leasing company said.

The deal comes after Aeromexico said last week it would spend $ 5 billion over the next five years on upgrades, including upgrading its fleet to 147 by the end of the year.

“The 737 offers state-of-the-art fuel economy technology to enhance the global capabilities of Mexico’s leading airline,” said Air Lease Corporation CEO Steven Udvar-Hazy.

Aeromexico filed for bankruptcy in mid-2020 following falling travel demand following the coronavirus pandemic.

The airline reached an agreement with the debtors in a U.S. court in January and then recently carried out a term stock split and then a reverse split to relinquish control of the company, formalizing its exit from bankruptcy.

Aeromexico shares rose 8.45% on Friday morning after a volatile week in Mexico ‘s main market. An analyst said the shares will continue to behave erratically until traders have more information about the airline’s financial condition.

Shares of Air Lease rose about 1.35% on the New York Stock Exchange after the announcement.

(Report by Noe Torres and Kylie Madry · Edited by Aurora Ellis)



Mexico’s Aeromexico rents nine Boeing planes in agreement with Air Lease

Source link Mexico’s Aeromexico rents nine Boeing planes in agreement with Air Lease

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