Grupo Aeromexico, a restructured Mexican airline, filed on Monday with the SEC to raise up to $300 million in an initial public offering.
Grupo Aeromexico states that it is the only full service carrier based in Mexico and the only airline that provides long-haul, wide-body service connecting Mexico with the rest of the world. The company offers both international and domestic destinations, including every major city in Mexico and 43 international cities in 22 countries across multiple continents. Grupo Aeromexico is the only Mexican airline to be a member of one of the three global airline alliances (SkyTeam), which it co-founded with Delta more than 20 years ago, and it also has a Joint Cooperation Agreement with Delta that supports passenger flows in the Mexico-US transborder market. In 2022, the company completed a reorganization process under Chapter 11, which included delisting its shares off the Mexican Stock Exchange.
The Mexico City, Mexico-based company was founded in 1934 and booked $5.2 billion in revenue for the 12 months ended March 31, 2024. It plans to list on the NYSE under the symbol AERO. Barclays, Morgan Stanley, J.P. Morgan, and Evercore ISI are the joint bookrunners on the deal. No pricing terms were disclosed.
