Aeromexico files for bankruptcy, third Latin American carrier to restructure
Mexico's largest airline Aeromexico has filed for Chapter 11 bankruptcy in the U.S., joining peers Avianca and LATAM Airlines in restructuring amid the devastating impact of the coronavirus pandemic on the global aviation industry.
The Mexico City-based carrier will continue flying as it restructures its balance sheet through the courts, Aeromexico said late on Tuesday. This includes plans to double the number of flights it offers in Mexico and quadruple the number of flights it offers internationally in July compared to June. Still, schedules will still be down nearly 70% year-over-year, underscoring the broader impact of the pandemic.
Aeromexico's bankruptcy will not impact its Club Premier loyalty program, the airline said. All points, as well as vouchers and other credits, remain valid.
Sign up for the free daily TPG newsletter for more airline news!
"Our industry faces unprecedented challenges due to significant declines in demand for air transportation globally, hence we are committed to taking the necessary measures so that we can operate effectively in this new landscape," Andres Conesa, CEO of Aeromexico, said in a statement.
From a U.S. perspective, Aeromexico is the third Delta Air Lines partner to restructure, following Virgin Australia and LATAM. Delta owns a 51% stake of Grupo Aeromexico, the Mexican carrier's parent company, and the two airlines have a joint venture partnership that allows them to coordinate flights between Mexico and the U.S.
Aeromexico called its partnership with Delta "critical" to its business in a court filing on July 1. It plans to maintain all of its agreements, including the joint venture, with the U.S. carrier through the restructuring process.
Delta has yet to comment on Aeromexico's bankruptcy but has previously said that it stands behind LATAM. However, with both LATAM and Aeromexico, Delta stands to lose hundreds of millions of dollars in equity investments.
Related: Delta Air Lines stands by new partner LATAM, despite bankruptcy
While airlines around the world have been hit hard by the crisis, few governments in Latin America have stepped up and offered aid to carriers. So far, Brazil is among the few that have offered financial support to its airlines. Elsewhere, bankruptcies have hit two region's largest carriers, Avianca and LATAM.
Avianca has shut its Peruvian subsidiary and received court approval to return at least 12 aircraft to their leasing firms. LATAM has shut its Argentinian operation and is working to return 24 jets to lessors.
Aeromexico does not have operations outside of Mexico, but may try to shrink its fleet through bankruptcy. The airline and its regional partner Aeromexico Connect flew 119 jets, including 35 Boeing 737-800s and 19 Boeing 787s, at the end of March.
Related: Ultimate Guide to Aeromexico Club Premier
Updated with comment from Aeromexico on importance of its partnership with Delta.
TPG featured card
at American Express's secure site
Terms & restrictions apply. See rates & fees.
| 3X | Earn 3X Miles on Delta purchases. |
| 1X | Earn 1X Miles on all other eligible purchases. |
Pros
- Delta SkyClub access when flying Delta
- Annual companion ticket for travel on Delta (upon renewal)
- Ability to earn MQDs through spending
- Various statement credits for eligible purchases
Cons
- Steep annual fee of $650
- Other Delta cobranded cards offer superior earning categories
- Earn 100,000 Bonus Miles after you spend $6,000 or more in purchases with your new Card within the first 6 months of Card Membership and an additional 25,000 bonus miles after you make an additional $3,000 in purchases on the Card within your first 6 months, starting from the date that your account is opened. Offer Ends 04/01/2026.
- Delta SkyMiles® Reserve American Express Card Members receive 15 Visits per Medallion® Year to the Delta Sky Club® when flying Delta and can unlock an unlimited number of Visits after spending $75,000 in purchases on your Card in a calendar year. Plus, you’ll receive four One-Time Guest Passes each Medallion Year so you can share the experience with family and friends when traveling Delta together.
- Enjoy complimentary access to The Centurion® Lounge in the U.S. and select international locations (as set forth on the Centurion Lounge Website), Sidecar by The Centurion® Lounge in the U.S. (see the Centurion Lounge Website for more information on Sidecar by The Centurion® Lounge availability), and Escape Lounges when flying on a Delta flight booked with the Delta SkyMiles® Reserve American Express Card. § To access Sidecar by The Centurion® Lounge, Card Members must arrive within 90 minutes of their departing flight (including layovers). To access The Centurion® Lounge, Card Members must arrive within 3 hours of their departing flight. Effective July 8, 2026, during a layover, Card Members must arrive within 5 hours of the connecting flight.
- Receive $2,500 Medallion® Qualification Dollars with MQD Headstart each Medallion Qualification Year and earn $1 MQD for each $10 in purchases on your Delta SkyMiles® Reserve American Express Card with MQD Boost to get closer to Status next Medallion Year.
- Enjoy a Companion Certificate on a Delta First, Delta Comfort, or Delta Main round-trip flight to select destinations each year after renewal of your Card. The Companion Certificate requires payment of government-imposed taxes and fees of between $22 and $250 (for itineraries with up to four flight segments). Baggage charges and other restrictions apply. Delta Basic experiences are not eligible for this benefit.
- $240 Resy Credit: When you use your Delta SkyMiles® Reserve American Express Card for eligible purchases with U.S. Resy restaurants, you can earn up to $20 each month in statement credits. Enrollment required.
- $120 Rideshare Credit: Earn up to $10 back in statement credits each month after you use your Delta SkyMiles® Reserve American Express Card to pay for U.S. rideshare purchases with select providers. Enrollment required.
- Delta SkyMiles® Reserve American Express Card Members get 15% off when using miles to book Award Travel on Delta flights through delta.com and the Fly Delta app. Discount not applicable to partner-operated flights or to taxes and fees.
- With your Delta SkyMiles® Reserve American Express Card, receive upgrade priority over others with the same Medallion tier, product and fare experience purchased, and Million Miler milestone when you fly with Delta.
- Earn 3X Miles on Delta purchases and earn 1X Miles on all other eligible purchases.
- No Foreign Transaction Fees. Enjoy international travel without additional fees on purchases made abroad.
- $650 Annual Fee.
- Apply with confidence. Know if you're approved for a Card with no impact to your credit score. If you're approved and you choose to accept this Card, your credit score may be impacted.
- Terms Apply.
- See Rates & Fees