Mexico’s Interjet will file for insolvency proceedings.

Redacción - Aviación al Día

4 years ago

In the next few days, Mexico’s Interjet will enter into insolvency proceedings, with the aim that three investment funds will inject resources into the airline to solve the situation it is going through, with which it expects to return to the air next July, the company informed.

In an interview with Forbes Mexico, Carlos del Valle del Rio, spokesman for the company, indicated that the letters of intent from Lufthansa Consulting, Sigma and WTI cover up to 1 billion dollars in a first stage.

In this sense, he specified that the funds requested that in order to land the resources there must be a commercial bankruptcy.

“We have been looking for capital since the strike broke out, approaching investors to find a solution to Interjet’s crisis, we have received around 14 proposals and in the end we have opted for the three most solid ones, Lufthansa Consulting, Sigma and WTI,” he said.

Likewise, the spokesperson commented that the company will also enter Chapter 11 in the United States in the next few days, in order to settle the debts it owes in that country.

“We are projecting that the airline will be able to solve the main urgencies: salaries, taxes, suppliers, bring in airplanes, we are talking in a first stage of 15 airplanes with which we will operate by July and from there the company will take off”, he said.

Carlos del Valle del Rio explained that Interjet’s debt is 1.25 billion dollars, which includes salaries, benefits, taxes, 380 million dollars of debt for the purchase of Russian airplanes and 140 million dollars in debts with airplane leasing companies.

However, he specified that they do not necessarily have to pay this amount, since, for example, in the case of the Russian airplanes, they are in talks with the Cuban government to keep the 20 airplanes and absorb the debt with Sukhoi.

While with the leasing companies they have deposits of more than 140 million dollars, so they are in the process of matching the debts.