Aeromexico concludes two union negotiations found in bankruptcy proceedings
31 December, 2020
Grupo Aeromexico has finished up discussions with several labor unions but remains in talks with two extra, it said on Tuesday (Dec 30) within an upgrade on negotiations that are a requirement for the airline to get another tranche of bankruptcy financing.
Aeromexico filed for Chapter 11 bankruptcy protection found in a US court in June, following the coronavirus pandemic slammed the global travel and leisure industry.
The carrier was approved for US$1 billion in debtor-in-possession (DIP) financing, and received a short US$100 million payment in September.
Aeromexico said it had wrapped up negotiations with the STIA and Independencia unions, which represent airline sector workers, although it remains found in talks with the ASSA and ASPA unions, which represent trip crews and pilots respectively.
It didn't detail conditions of the completed agreements. The airline must reach agreements with all unions to access another tranche of DIP funding.
"The favourable outcome of the negotiations with the Independencia and STIA unions, and also the progress with the flight attendants union ASSA, represents an exceptionally important milestone to have access to another stages of DIP financing under our restructuring method," Aeromexico LEADER Andres Conesa said in a assertion.
The company in November requested permission from US bankruptcy court to dismiss 1,830 employees, including 855 unionised workers.
Source: www.channelnewsasia.com
TAG(s):