Mexico’s Interjet Seeks Last-Gasp Revamp for $1.25 Billion Debt

May 4, 2021, 5:56 PM

The new management of Mexican airline Interjet has hired a restructuring firm to help overcome its $1.25 billion of inherited debt as the company looks to restart operations.

The airline, now controlled by businessman Alejandro del Valle, has brought on Mexico City-based Argoss Partners to help resolve issues with creditors via a prepackaged bankruptcy and obtain debtor-in-possession financing. Interjet plans to submit a restructuring plan to Mexico’s bankruptcy regulator for review in the coming weeks.

Interjet, which halted flights in December, faces numerous hurdles to restarting operations, from unpaid taxes and back salaries to a lack of airplanes -- ...

To read the full article log in. To learn more about a subscription click here.