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Aeromexico announces final approval of DIP facility by Chapter 11 Court


Aeromexico announces final approval of DIP facility by Chapter 11 Court  
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Grupo Aeroméxico has announced the receipt of final approval for $1bn senior secured superpriority multi-tranche debtor-in-possession (DIP) term loan facility. 
Alternative asset managers Apollo Global Management has secured court consent to provide a bankruptcy loan for Aeromexico, reported Bloomberg.  
The approval was given by Judge Shelley C Chapman of the United States Bankruptcy Court for the Southern District of New York. 
In August this year, the carrier filed for DIP financing motion to maintain adequate liquidity position after filing for voluntary Chapter 11 petitions in the US the previous month.   ....

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