Aeromexico falls back on the stock market and closes with losses of 37.50%

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Mexico City, Dec 17 (EFE) .- Aeroméxico, Mexico’s main airline, registered its second consecutive fall on the Mexican Stock Exchange (BMV) this Friday, losing 37.50% of its value at the close of operations.

The airline, whose shares fell 52.30% on Thursday, its worst stock market record in history, was valued on Friday morning with losses of 18%, which caused the BMV to suspend the listing of the company.

The current value per share is 1.1 Mexican pesos ($ 0.048), 66 cents less than at the close of the previous day and far from 3.69 on Wednesday.

Markets have not reacted well to the company’s announcement that it would take advantage of a public acquisition offer (OPA) for a penny of a peso per share and, at its worst, the value of the airline plummeted by as much as a 75%.

The offer, as confirmed by Aeroméxico in a statement, has been promoted by a “company not related to the company” and will be made for 331 million shares, 49% of the current capital.

According to the local economic press, the US airline Delta Airlines, which is currently the majority shareholder of the company with 51%, will not participate in the OPA.

PROBLEMS FROM THE PANDEMIC

Aeromexico has not been exempt from the crisis in the aviation sector during the coronavirus pandemic: between January and August of last year, the company lost 58% of the number of passengers.

In order to improve its economic situation, the Mexican airline began a financial restructuring process in the United States in 2020, invoking Chapter 11 of the United States Bankruptcy Code in a New York court.

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