Interjet Forced to Sell Assets

Interjet Forced to Sell Assets

DALLAS – Defunct Mexican airline Interjet (4O) has been ordered to sell its assets as part of its ongoing bankruptcy proceedings. This was announced by Second District Judge in Commercial Insolvency Matters, Saúl Martínez Lira. The carrier allegedly owes MX$40bn (US$2.2bn) to lessors, former employees, and other service providers.

Interjet, based in Mexico City (MEX), once operated almost 90 aircraft on flights connecting the country’s major cities with its neighbors. However, due to the rise of the COVID-19 pandemic, it followed many companies ceasing operations and finally declared bankruptcy in March 2021.

With the carrier struggling to recover from the delicate situation, it has been determined that most of its assets will be sold at a fair price to pay off the company’s debts.

The assets for sale include airport slots, ground equipment, and their own aircraft. Its fleet was composed of 64 Airbus A320 family jets, including 15 units of the neo variants. It also operated a total of 22 Sukhoi Superjet 100 aircraft, the Russian-made airplane that 4O was the only carrier of the western hemisphere to operate.

Interjet was a unique airline that was the only one to have ever operated the particular SSJ 100 in the western hemisphere. Photo: Superjet International.

Long and Painful Bankruptcy

Interjet’s bankruptcy has been a long and painful process, and it has caused a lot of uncertainty for its customers and employees. The airline has already laid off many workers, and what will happen to those remains to be seen. In January 2021, more than 5,000 of its unpaid workers began striking for compensation.

The sale is hoped to allow the airline to pay the MX$1.8bn (US$99.1m) owed to its former employees.

For the airline industry, the COVID-19 pandemic has been a major challenge, and many airlines worldwide have been forced to file for bankruptcy or seek government bailouts. It remains to be seen how the industry will recover from this crisis, but one thing is clear: it will never be the same again.

Featured image: Misael Ocasio Hernandez/Airways.

Deputy Reporter - Europe & Middle East
Commercial aviation enthusiast from Madrid, Spain. Studying for a degree in Air Traffic Management and Operations at the Technical University of Madrid. Aviation photographer since 2018.

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