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Aeromar says capital investment could see purchase of six new planes, new Central America routes

Mexico City, Mexico — Aeromar prepares for the purchase of six aircraft next year along with new routes to Central America. The airline, who is accused of non-payment by its workers, affirms that in six months, a capital investment could be closed that will allow it to increase its fleet.

Recently, the airline’s workers went on strike due to the lack of payment, however, the company says that it expects a capital investment with the objective of executing an expansion that would lead it to increase its capacity by 60 percent for the following year, with the addition of six new aircraft.

An injection that would occur amid accusations by labor unions and flight attendants of non-payment of wages along with benefits.

“There is money from the operation in addition to what is about to come from the investor,” said Danilo Correa, CEO of Aeromar to the media at the presentation of the Maya World Connectivity Reactivation Project, a strategy to connect airways to Mexico with Central America.

Correa says the new capital investment has been cooking over the past half year, and that it could take another six months to close.

“We are looking for capital and credit because it is a hybrid mix that is needed in the business for it to grow. It is the priority of this company to capitalize on all the opportunities that have appeared after the pandemic,” he said.

This is not the first injection of capital that has been at the door for Aeromar. In 2016, Synergy Group, the largest partner of the Colombian airline Avianca, announced an investment of $100 million dollars to acquire up to 49 percent of the Mexican company, a process that fell apart due to the disagreements, among other things, that Aeromar had with their workers.

The airline has faced several allegations of violations of the collective bargaining agreement due to non-payment of wages, a savings fund and the withholding of union dues for overcharges that were not delivered to the union.

For this reason, both the pilots and flight attendants unions have contemplated different strike locations without a specific date or term being specified.

Correa referred to these accusations as “speculation and rumors.” “The issue of wages. What employee is going to work 18 months without receiving a single peso? That is not true,” he said.

President Andrés Manuel López Obrador has referred to the airline’s financial crisis, considering helping the company under a cooperative scheme that works through workers and the Federal Government itself. For this, Correa did not rule out anything, but pointed out that there is nothing closed so far.

“There have been no official conversations about it,” he said. “But no one can be denied that possibility.”

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