MIAMI – Aeromexico (AM) reports this week in a news release that it has made significant progress pursuing a collective bargaining agreement with two of its unions. The agreements are necessary to successfully manage the adverse effects caused by the COVID-19 pandemic, the airline says.
The Company has satisfactorily concluded negotiations with the Sindicato de Trabajadores de la Industria Aeronáutica, Comunicaciones Similares y Conexos de la República Mexicana (STIA) and with the Sindicato Nacional de Trabajadores al Servicio de las Líneas Aéreas, Transportes, Servicios, Similares y Conexos Independencia (Independencia).
The press release notes that ASSA, Independencia, and STIA unions complied with the optimization and staff reduction program in October and November that was necessary for the AM to continue its restructuring process.
Other Negotiations Continue
Also, AM continues to negotiate with the Asociación Sindical de Pilotos Aviadores de Mexico (ASPA) to obtain concessions the airline sees as necessary to meet the restructuring plan requirements.
The concessions achieved and which the airline is still pursuing with unions are necessary for the Company to comply with certain commitments and objectives required by the DIP Lenders under the Senior Debtor in Possession Credit Facility (“DIP Financing”), obtained within the Company’s voluntary financial restructuring process, under the Chapter 11 of the Bankruptcy Code of the United States of America.
The airline filed for Chapter 11 in July and will continue to operate under that protection while it reorganizes.
Andrés Conesa, CEO of Aeromexico, commented, “The favorable outcome of the negotiations with the Independencia and STIA unions, as well as the progress with the flight attendants union ASSA, represents an extremely important milestone to have access to the next stages of DIP financing under our restructuring process. These agreements are a product of the enormous effort, contributions, and support of all Aeromexico employees.
“Likewise, we also hope to conclude negotiations with ASPA within the established time frame and within the necessary conditions. We recognize the invaluable support of our unions so that Aeromexico consolidates in the future as the leading airline in our country and continues to unite Mexico with the world.”
Featured image: Kochan Kleps/Airways