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Aeromexico shares rise for second day despite missed debt payment

Other News Materials 4 July 2020 09:19 (UTC +04:00)
Aeromexico shares rise for second day despite missed debt payment

Shares in airline Aeromexico closed up 4.48%, rising for a second straight day even as the company missed a debt payment after filing for bankruptcy protection, Trend reports with reference to Reuters.

Aeromexico, part-owned by Delta Air Lines Inc, this week became the third airline in Latin America to file for Chapter 11 bankruptcy protection after the business took a huge hit from the coronavirus pandemic.

Late on Thursday, bank CIBanco said Aeromexico had failed to make interest payments worth some 1.01 million pesos ($45,000) on local stock certificates AEROMEX 01119.

CIBanco, representing holders of the securities, said it would convene a meeting of investors to resolve the matter.

Aeromexico shares traded has high as 5.35 pesos a share on Friday before trimming gains to close at 5.17 pesos.

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