Mexico’s Aeromexico rents nine Boeing planes in deal with Air Lease
MEXICO CITY (Reuters) – Mexican airline Aeromexico has reached an settlement to hire 9 Boeing planes, Air Lease Company mentioned on Friday, increasing the provider’s fleet because it emerges from Chapter 11 chapter.
Air Lease will present Aeromexico with two new 737-8s and 7 new 737-9s, which is able to arrive between July 2022 and August 2023, the plane leasing firm mentioned.
The deal comes after Aeromexico mentioned final week it will spend $5 billion over the following 5 years on upgrades, together with revamping its fleet to achieve 147 plane by the top of the 12 months.
“The 737 affords probably the most fashionable, fuel-efficient know-how to reinforce the worldwide capabilities of Mexico’s premier airline,” Air Lease Company Government Chairman Steven Udvar-Hazy mentioned in an announcement.
Aeromexico declared chapter in mid-2020 after journey demand plummeted following the coronavirus pandemic.
The airline got here to an settlement with debtors in a U.S. court docket in January, after which it just lately carried out a ahead inventory cut up and subsequent reverse cut up to shuffle firm management, formalizing its exit from chapter.
Aeromexico shares have been up 8.45% Friday morning after a unstable week on Mexico’s principal market. One analyst mentioned shares would proceed to behave erratically till merchants had extra details about the airline’s monetary state of affairs.
Shares in Air Lease have been up some 1.35% on the New York Inventory Alternate following the announcement.
(Reporting by Noe Torres and Kylie Madry; Enhancing by Aurora Ellis)
