Aeromexico shares rise for second day despite missed debt payment

imageStock Markets7 hours ago (Jul 03, 2020 10:05PM ET)

(C) Reuters. An Aeromexico airplane prepares to land on the airstrip at Benito Juarez international airport in Mexico City

MEXICO CITY (Reuters) – Shares in airline Aeromexico closed up 4.48% on Friday, rising for a second straight day even as the company missed a debt payment after filing for bankruptcy protection.

Aeromexico (MX:AEROMEX), part-owned by Delta Air Lines Inc (N:DAL), 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.

Aeromexico shares rise for second day despite missed debt payment

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Leave a Reply

Your email address will not be published. Required fields are marked *