The market conditions are not currently the ideals for the Aeromexico Cotice airline in New York, the general director of the company said Tuesday, after the plans to go over they were delayed last year.
Andrés Conesa affirmed to journalists that the airline will go out “as soon as market conditions allow it”, but gave no more explanations.
“We are not in a hurry,” he added, and clarified that the initial public offer (OPI) would come “when the shareholders decide to sell.”
Aeromexico was a long time for the main stock exchange of Mexico, but stopped quoting as part of the bankruptcy procedure of chapter 11, which came out in 2022.
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Some of Aeromexico’s largest shareholders after chapter 11 include the private capital firm Apollo Management, the investment Silver Point Capital and Delta Air Lines, with which the airline has a shared code agreement.
Last year, Aeromexico presented plans to quote on the New York Stock Exchange under the “Aero” ticket. His shareholders were going to sell American depositary share (ADS) in the OPI, but the company did not reveal the size or range of supply prices.
Media reported at the time that Aeromexico investors intended to obtain up to 500 million dollars with the OPI, but that factors such as last year’s presidential elections made the calendar uncertain.
With Reuters information
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