Aeromexico Reaches Agreement with Lessors

Grupo Aeroméxico, S.A.B. de C.V. today announced that the Company received approval by the United States Bankruptcy Court for the Southern District of New York to modify the majority of its existing aircraft equipment leases into power by the hour agreements ("PBH Agreements") that will substantially reduce Aeromexico's monthly aircraft and engine costs for the duration of the PBH period. PBH Agreements allow for Aeromexico to reset monthly lease costs based on utilization of the equipment at today's market rates, with significant monthly savings, when compared to Aeromexico's original contracted rates.  Such PBH Agreements were entered into between Aeromexico and 27 different leasing companies covering 82 aircraft and 14 spare engines.