Aeromexico says court gives definitive approval to $1 billion DIP financing

FILE PHOTO: The logo of the aerial company Aeromexico is seen at the Aeromexico counter at Benito Juarez international airport in Mexico City, Mexico, July 1, 2020. REUTERS/Edgard Garrido

MEXICO CITY (Reuters) - Aeromexico said on Friday a New York court had given definitive approval to its request for debtor-in-possession (DIP) financing of up to $1 billion as the Mexican airline works through bankruptcy proceedings.

The court had initially backed the financing in August and the definitive seal of approval gives the company access to an undrawn part of the first tranche of financing as well as the initial sum from the second tranche, Aeromexico said.

Reporting by Miguel Gutierrez; Editing by Drazen Jorgic