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Interjet to request commercial bankruptcy by March 30

Mexico City, Mexico — Interjet says the company will make a request to file for commercial bankruptcy next week in order to activate an investment fund. In a press conference Monday, owner Alejandro del Valle says the company will request to enter bankruptcy by March 30 so that an investment fund can inject resources of up to one billion dollars.

“The commercial bankruptcy is needed for the resources to arrive. It is necessary,” Del Valle said during the public meeting.

The president of the Board of Directors of Interjet said that Lufthansa Consulting offered to deposit $68 million dollars as a first approach, so that the company, which is of German origin, can enter the air business in Mexico.

The Interjet airline owes about $1.2 billion, however, the company will go to court with suppliers to adjust Interjet’s leverage. “We believe that we are going to spend, after the contest, between 350 and 500 million dollars,” del Valle said adding that “if the investment funds do not arrive, the company will go to auction.”

Interjet stopped operating flights December 11, and as of January 8, unionized workers broke out in a strike that continues and has already been ratified by the Federal Conciliation and Arbitration Board. Neither the Federal Civil Aviation Agency (AFAC) nor the Ministry of Communications and Transportation (SCT), bodies in charge of ensuring that the use of air concessions is carried out in accordance with the law, have made any pronouncement in recent months.

Around 5,000 workers have been left without salaries since August of 2020.

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