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Reuters
Aeromexico exits bankruptcy with a $5 billion investment plan, changes in its fleet
MEXICO CITY (Reuters) -Mexican airline Grupo Aeromexico said on Thursday that it has emerged from bankruptcy protection, adding it now plans to spend $5 billion over the next five years on fleet modernization and other upgrades. The company last year signed a deal to buy 28 planes from Boeing Co , which it argued would result in $2 billion of savings. Beyond upgrading its fleet, Aeromexico needs to implement technology that further reduces unit costs, so it can better compete with local low-cost carriers Volaris and Viva Aerobus, and its peers operating international routes, he said.
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