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Aeromexico shares rise for second day despite missed debt payment - Metro US

Aeromexico shares rise for second day despite missed debt payment

An Aeromexico airplane prepares to land on the airstrip at Benito Juarez international airport in Mexico City

MEXICO CITY (Reuters) – Shares in airline Aeromexico closed up 4.48% on Friday, rising for a second straight day even as the company missed a debt payment after filing for bankruptcy protection.

Aeromexico <AEROMEX.MX>, part-owned by Delta Air Lines Inc <DAL.N>, this week became the third airline in Latin America to file for Chapter 11 bankruptcy protection after the business took a huge hit from the coronavirus pandemic.

Late on Thursday, bank CIBanco said Aeromexico had failed to make interest payments worth some 1.01 million pesos ($45,000) on local stock certificates AEROMEX 01119.

CIBanco, representing holders of the securities, said it would convene a meeting of investors to resolve the matter.

Aeromexico shares traded has high as 5.35 pesos a share on Friday before trimming gains to close at 5.17 pesos.

(Reporting by Daina Beth Solomon; Editing by Chris Reese)

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