MIAMI – Today, Aeromexico (AM) announced that they had reached a deal with lessors and Boeing to add 24 new Boeing 737-8 and MAX 9s, as well as four Boeing 787-9s to its fleet.
The first nine aircraft ordered through this deal will arrive for the airline to begin service this summer, with the rest of the aircraft arriving in the second half of this year and next year.
The airline expects a rebound in travel, and is therefore looking to expand its capacity.
Many airlines have also seen highly competitive leasing rates, moving in conjunction with the anticipated market rebound.
In addition to the new aircraft, the deal modified long-term maintenance contracts, as well as renegotiated leases for 18 of the airline’s aircraft.
In total, the deal will lead to a savings of approximately US $2bn for the airline.
The deal comes as a major surprise to many, as the airline is currently undergoing a Chapter 11 voluntary financial restructuring process.
Due to the restructuring process, the deal rests in the hands of The United States Court for the Southern District of New York for approval.
Andres Conesa, Chief Executive Officer of Aeromexico, said, “These transactions show the confidence of our employees, customers, lessors, manufacturers, investors, and business partners in the future of Mexico’s global airline.”
He continued, “It will also give us flexibility to complete other negotiations and put Aeromexico on a strong path to exit Chapter 11 later this year”
Featured Image: Michael Rodeback/Airways