Grupo Aeromexico has filed to make an initial public offering, completion of which would see the parent company of Aeromexico traded on the New York Stock Exchange.
The company said in a 13 May filing with the US Securities and Exchange Commission (SEC) that it is seeking to be listed under the ticker “AERO”, and that is has also applied for listing on the Mexican stock exchange.
Neither the SEC nor the Mexican CNBV have approved Aeromexico’s listing on their respective country’s stock exchanges.
The Mexico City-based carrier is more than two years removed from completing Chapter 11 bankruptcy proceedings initiated in June 2020, after the Covid-19 pandemic eviscerated Latin American carriers including Colombia’s Avianca and Chile’s LATAM Airlines.
Both longtime US partner Delta Air Lines and investor group Apollo Global Management hold at least 20% stakes in Aeromexico following its reorganisation.
Delta and Aeromexico, both SkyTeam partners, are currently fighting to keep alive their long-running joint venture, which has allowed for cross-border collaboration since forming in 2016.
At the end of January, the US Department of Transportation tentatively ordered the carriers to unwind their joint venture by October, citing concerns about how Mexican government actions are impacting US airlines at Mexico City’s Benito Juarez International airport.
Delta indicated last month that it is “cautiously optimistic” about the joint venture’s continued existence. In March, the Atlanta-based airline submitted letters from 60 stakeholders that oppose the DOT’s ruling.
