July 13, 2020 / 10:11 AM / a month ago

Mexico's Interjet gets $150 million capital injection to offset virus hit

MEXICO CITY (Reuters) - Mexico’s Interjet said on Monday it received a $150 million capital injection to help the company through a major restructuring in a bid to offset the crisis in the airline sector as the coronavirus pandemic choked global travel.

Interjet, one of Mexico’s three biggest airlines with a portfolio of more than 50 routes, announced restructure plans last month as local media speculated about the carrier’s financial health.

The struggling Mexican airline said a group of investors, headed by businessmen Carlos Cabal and Alejandro del Valle, has injected capital to help shore up the company.

“The new operations plan considers the return, in the coming days, of more Airbus 320 and 321 aircraft,” the company said in a statement.

Rival Aeromexico (AEROMEX.MX) has already filed for Chapter 11 bankruptcy proceedings.

Reporting by Noe Torres: Writing by Drazen Jorgic, Editing by Sherry Jacob-Phillips

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