July 17, 2020 / 1:18 AM / 18 days ago

Aeromexico defaults on interest payments for two debt issuances

FILE PHOTO: An Aeromexico airplane prepares to land on the airstrip at Benito Juarez international airport in Mexico City, Mexico, July 1, 2020. REUTERS/Edgard Garrido

MEXICO CITY (Reuters) - Aeromexico, Mexico’s largest airline, defaulted on interest payments for two debt issuances, a representative for the debt holders said Thursday. Like other airlines, Aeromexico (AEROMEX.MX) has been suffering from a drop in demand caused by the coronavirus pandemic. Late last month, the company said it had initiated Chapter 11 bankruptcy proceedings.

The default was for a total amount of 3 million Mexican pesos ($135,000), financial group CI Banco said in a statement sent to the Mexican stock exchange.

Reporting by Noe Torres; Editing by Tom Hogue

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