SHARES in airline Aeromexico closed up 4.48% today, rising for a second straight day even as the company missed a debt payment after filing for bankruptcy protection.
Aeromexico, part-owned by Delta Air Lines Inc, this week became the third airline in Latin America to file for Chapter 11 bankruptcy protection after the business took a huge hit from the coronavirus pandemic.
Late on Thursday, bank CIBanco said Aeromexico had failed to make interest payments worth some 1.01 million pesos (RM192,937) on local stock certificates.
CIBanco, representing holders of the securities, said it would convene a meeting of investors to resolve the matter.
Aeromexico shares traded has high as 5.35 pesos a share on Friday before trimming gains to close at 5.17 pesos. – July 4, 2020, Reuters
