A New York bankruptcy judge has given Aeromexico permission to amend an order with Boeing signed in 2012, with related financing agreements entered into in 2017 and March 2020.
Aeromexico indicated to the court that the original order were more aircraft than were now required with its new business plan and also noted that lease terms were above current market rates. The airline told the court that it did not wish to cancel the agreement entirely as it would expose the airline to claims from Boeing. Under the amended order, Aeromexico will acquire 20 737 Max and four 787-9 aircraft and assume amended leases on 16 additional aircraft, all on "very attractive terms compared to market levels", the airline said. The new deal is also understood to include reduced lease rates for the four 737 MAX aircraft already delivered.
Aeromexico claims the amended order will save the company $800 million.
"The company will continue to strengthen its financial position and liquidity, protect and preserve its operations and assets, and implement the necessary adjustments to face the impact from COVID-19," said Aeromexico.