Aeromexico CEO says airline needs to downsize as shares sink after bankruptcy filing

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Aeromexico CEO says airline needs to downsize as shares sink after bankruptcy filing
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Mexican airline Aeromexico will offer fewer flights and have fewer planes in the short term as it begins a Chapter 11 restructuring process, Chief Executive Andres Conesa said on Wednesday.

Passengers, wearing protective masks following an outbreak of the coronavirus disease , wait for flights at the Aeromexico counter at Benito Juarez international airport in Mexico City, Mexico, July 1, 2020. REUTERS/Edgard Garrido

Aeromexico, 49%-owned by Delta Air Lines , is the third airline to file for bankruptcy protection in Latin America, where carriers hit by the coronavirus have had less help from governments. The airline said in a statement late on Wednesday it had gained court approval to continue paying employees and suppliers, honor already purchased tickets and maintain agreements with travel agencies, corporations and partner airlines.

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