Aeromar Airlines (México City International) has announced the "definitive cessation" of all operations as of February 15, 2023, due to heavy financial losses and the absence of any new investors.
"This decision is the result of a series of financial problems that the airline has been going through, as well as the difficulty of closing investor agreements with viable conditions that would ensure Aeromar's operations in the long term," the airline said in a statement.
The regional carrier has been struggling financially for months and stressed that the COVID-19 pandemic further aggravated its situation. Aeromar Airlines' total debt reportedly amounts to MXN7 billion Mexican pesos (USD370 million), of which half is owed to the federal government in taxes. The airline also owes MXN500 million (USD26.5 million) to the operator of México City International airport. The capital airport previously seized two of the carrier's hangars and on the morning of February 15, suspended the provision of all services to Aeromar.
Besides the airport, lessors have also started moving against Aeromar. The Superior Court of México City seized three ATR72-600s at the behest of Export Development Canada, leaving it with just one active ACV!AT42600 and one ATR72-600. The former, XA-UYK (msn 1211), is parked at México City Int'l, and the latter, XA-UYT (msn 1400), at Puerto Vallarta, Flightradar24 ADS-B data shows.
The airline hoped for a last-minute rescue investment from Nella Airlines UK, but talks on February 13 did not result in an agreement. The UK-based holding confirmed in a statement that after talks that took a few months, it was unable to find a solution to repay Aeromar debts.
The airline employed around 700 staff and said it prioritised wage payments for 2022, despite the engulfing financial strain.
CH Aviation
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