H&K assists in restructuring of Aeroméxico Chapter 11

Holland & Knight has advised UMB Bank and Deutsche Bank Trust Company Americas on the Chapter 11 restructuring of Mexican airline Aeroméxico

 Holland & Knight’s Mexico City office has assited UMB Bank and Deutsche Bank Trust Company Americas as participants in Grupo Aeromexico’s Chapter 11 restructuring, which it successfully emerged from in March 2022. The two-year process concluded when the US Bankruptcy Court for the Southern District of New York approved the company’s $1.1 billion restructuring plan in January. During the restructuring process, Aeromexico was able to obtain a $4.3 billion capital increase and negotiate agreements with key unions to reduce costs.

UMB Bank acted as collateral agent for the benefit of the lenders under the termination of the 2020 DIP Financing documents and for the benefit of the secured parties (senior noteholders, investors) and secured parties under the 2022 Exit Facility documents. For its part, Deutsche Bank acted as trustee under one of Aeromexico’s Mexican trust vehicles.

Holland & Knight’s team included partners Peter Baumgaertner (pictured left) and Alejandro Landa Thierry (pictured right), senior advisors Michael Fruchter and Daniel Brown and associate Aldo Gonzalez Melo.

L Giselle Estrada