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Interjet seeking creditor agreements before bankruptcy to restart operating in July

Mexico City, Mexico — Interjet says it will seek agreements with creditors before going to bankruptcy. The airline estimates that it will take up to a month and a half to close negotiations with its suppliers, a necessary step to restructure and operate again.

The airline, which has not flown since December, owes approximately $ 11 billion peso to its suppliers. The Interjet airline has begun talks with its suppliers to close a series of agreements regarding their debts before entering bankruptcy in Mexico, and eventually a similar restructuring process in the United States, with the intention of restarting operations in July.

“We are still on the way to entering commercial bankruptcy. It is a decision that has already been made, but we want to talk with all the suppliers to be able to arrive in a more orderly way and give everyone certainty to this commercial bankruptcy,” said Carlos del Valle del Rio, Interjet media director.

A few weeks ago, Alejandro del Valle, president of the airline’s board of directors, expressed his intention to restructure the airline under the bankruptcy scheme and Chapter 11 of the US Bankruptcy Code.

Hence, the rapprochement with creditors is taking place to “accelerate” the restructuring of the airline in both countries, says Del Río, with the intention of returning to the market in the least possible time.

The airline’s spokesman affirms that the company is summoning all its suppliers, although he did not give a figure of how many there are, but did say of these, 93 percent are in Mexico and 7 percent in the United States.

“Due to the amount and number of providers, the national issue is more important, For every supplier in the United States there are 15 in Mexico. The issue that needs to be resolved is first in Mexico,” he said.

The airline’s plan is to restart operations with 15 aircraft from the manufacturer Airbus as of July, primarily in the domestic market, but with some participation in international routes where it stopped operating a year ago.

“It will start with one flight to the United States, at least,” said the airline’s spokesman.

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