Aeromexico defaults on interest payments for two debt issuances

MEXICO CITY (Reuters) – Aeromexico, Mexico’s largest airline, defaulted on interest payments for two debt issuances, a representative for the debt holders said Thursday. Like other airlines, Aeromexico has been suffering from a drop in demand caused by the coronavirus pandemic. Late last month, the company said it had initiated Chapter 11 bankruptcy proceedings.

The default was for a total amount of 3 million Mexican pesos ($135,000), financial group CI Banco said in a statement sent to the Mexican stock exchange.

(Reporting by Noe Torres; Editing by Tom Hogue)