Grupo Aeroméxico has filed paperwork with the US Securities & Exchange Commission (SEC) for a planned initial public offering on the New York Stock Exchange (NYSE).
The Mexican airline, which emerged from Chapter 11 bankruptcy protection in March 2022, plans to raise up to $300 million, according to media sources.
The carrier plans to offer American Depositary Shares under the symbol AERO with lead underwriters Barclays, Morgan Stanley, JPMorgan, Evercore ISI and Apollo Global Securities.
Apollo Global Management, which provided a $1bn loan to the airline as part of its restructuring – a proportion of which was converted to equity, currently owns 22.4% of Aeroméxico’s stock, with Delta Air Lines owning approximately 20%.
Aeroméxico's revenue reached $4.92bn for 2023, up from $3.81bn a year ago, with operating income rising to $715.8 million compared to $510.8 million in 2022.
Aeroméxico preps NYSE IPO
