The US Bankruptcy Court approved the fourth revised plan of reorganization of Grupo Aeroméxico, S.A.B. de C.V. on February 4, 2022. The debtor has filed its fourth revised plan in the Court on February 4, 2022. As per the plan, DIP facility claims of tranche 1 of $200 million, DIP reimbursement claims, administrative expense claims, professional fee claims, United States Trustee fees, priority tax claims and other priority claims against the debtors in the range of $0.4 million-$1 million, shall be paid in full in cash.

DIP facility claims of tranche 2 of $800 million shall receive new stock. Secured claims against the debtors in the range of $635 million–$656 million shall receive payment in full in cash or reinstatement of such claim. Aerovías and Grupo Aeroméxico Recourse claims in the range of $736 million-$842 million shall receive either its pro rata share of each of the Grupo Aeroméxico new stock allocation and the Aerovías new stock allocation or Aerovías/Grupo Claimholder cash pool.

General unsecured claims against Grupo Aeroméxico of $100 million and General unsecured claims against Aerovías of $1939 million shall receive its pro rata share of Grupo Aeroméxico and Aerovías new stock allocation, and, if applicable, its pro rata share of the remaining cash pool allocated to this class; provided, that cash received from the remaining cash pool will correspondingly reduce the amount of new stock to be received. General unsecured claims against Aeroméxico Connect of $457million and General unsecured claims against Aeroméxico Cargo in the range of $1.50 million shall receive their pro rata share of the Aeroméxico Connect New Stock Allocation and Aeroméxico Cargo New Stock Allocation, respectively and, if applicable, its pro rata share of the remaining cash pool allocated to the respective Classes; provided, that cash received from the remaining cash pool will correspondingly reduce the amount of new stock to be received. Unsecured convenience class claims against Grupo Aeroméxico of 0.20 million, unsecured convenience class claims against Aerovías pf $43.40 million, unsecured convenience class claims against Aeroméxico Connect of $6.50 million and unsecured convenience class claims against Aeroméxico Cargo of $1.09 million shall receive its pro rata share of cash.

Intercompany claims against Grupo Aeroméxico of $0.02 million, intercompany claims against Aerovías of $299 million, intercompany claims against Aeroméxico Connect of $646 million and intercompany claims against Aeroméxico Cargo of $10 million shall be reinstated, extinguished, compromised, addressed, setoff, canceled, or settled, potentially without any distribution on account of such claim. Intercompany interests in Aerovías, Aeroméxico Connect and Aeroméxico Cargo, shall be reinstated and rendered unimpaired. Holders of interest in Grupo Aeroméxico shall receive a pro rata share of the new stock if holders exercise their preemptive rights pursuant to a statutory equity rights offering, if holders of equity interest do not exercise their preemptive rights pursuant to a statutory equity rights offering will be diluted and any possible recovery related to such interests shall be deemed waived and the owners of such interests in Grupo Aeroméxico shall receive no distribution on account of such interests.

The plan shall be funded through cash, equity financing shall be available in the amount of $720 million and new first lien notes in the amount of $762.5 million.