MIAMI – According to a press release published by Aeromexico (AM) on April 23, the United States Court for the Southern District of New York, in charge of AM’s Chapter 11 filing, gave permission to the carrier for a massive addition to its fleet.
The airline, which is the second-largest Mexican air carrier, will add 24 new aircraft to its fleet out of which 20 are B737-8 and B737-9 Max types and four B787-9 Dreamliner. This addition has been made possible by a restructured agreement with the manufacturer, certain lessors, and other entities, both financial and/or suppliers, which took part in the deal resulting in multiple benefits for the airline.
In July 2020, AM filed a Chapter 11 protection from creditors n a US bankruptcy court in order to continue operations and use Chapter 11 to strengthen its financial position and liquidity. AM’s goal was to protect and preserve its operations and assets and implement the necessary operational adjustments to face Covid-19-related impact.
New Aircraft Deliveries Timeframe
The delivery is set to start in the Summer season of 2021 with nine aircraft entering into service while the remaining part will be delivered toward the end of the year and in 2022. AM considers this transaction as a milestone for the carrier transformation for the coming years.
New aircraft availability will permit AM to make substantial savings in maintenance by modifying long-term maintenance contracts while reducing leasing agreement costs for 18 aircraft already present in its fleet with an estimated saving of approximately US$2bl. The savings will allow AM to be more competitive by improving on aircraft, in-flight, and ground services.
Andres Conesa, AM CEO, stated, “These transactions show the confidence of our employees, customers, lessors, manufacturers, investors, and business partners in the future of Mexico’s global airline. It will also give us flexibility to complete other negotiations and put Aeromexico on a strong path to exit Chapter 11 later this year”.
Aeromexico counts on substantial fuel savings brought in by the B737Max – minus14% -, reduced CO2 emission of 15% while bringing noise footprint down by 40%. The same is expected by the introduction of the B787-9 Dreamliner with reduced fuel consumption of 23% and reduced CO2 emission by 25%.
The airline’s current fleet is composed of 107 aircraft: 47 Embraer 190s, 42Boeing 737s, and 18 Boeing 787 Dreamliners.
Featured image: Aeromexico XA-MFG Boeing 787-9 Dreamliner – Photo : Daniel Gorun/Airways