Holland & Knight Advises Financial Institutions Involved in Aeroméxico's Chapter 11 Restructuring

MEXICO CITY and NEW YORK (April 1, 2022) – Holland & Knight advised UMB Bank, N.A. and Deutsche Bank Trust Company Americas as participants in Grupo Aeroméxico, S.A.B. de C.V.'s (Aeroméxico) Chapter 11 restructuring, which it successfully emerged from in March 2022. The two-year process concluded when the U.S. Bankruptcy Court for the Southern District of New York approved the company's $1.1 billion restructuring plan in January.

UMB Bank acted as collateral agent for the benefit of the lenders under the termination of the 2020 DIP Financing documents and for the benefit of secured parties (senior noteholders, investors) and secured parties under the 2022 Exit Facility documents. Deutsche Bank acted as trustee under one of Aeromexico’s trust vehicles in Mexico.

Aeroméxico is Mexico's flagship carrier and the leading Mexican airline in terms of fleet size and network. During the restructuring process, Aeroméxico was able to obtain a capital increase of $4.3 billion and negotiate agreements with key trade and labor unions to reduce costs.

The Holland & Knight team who led the firm's representation of UMB Bank and Deutsche Bank included Partners Peter Baumgaertner and Alejandro Landa Thierry and Senior Counsel Michael Fruchter and Daniel Brown. They were assisted by Associate Aldo González Melo.