It is nothing new to refer to the crisis experienced by the air sector in the face of the pronounced decline in travelers due to the obvious effects of the coronavirus. Neither is it talking about the financial problems you face Aeroméxico due to the same cause.
But, the Mexican airline appears to have found an alternative to stabilize its situation without affecting its operations in the national and international market.
A Canadian agreement
On Monday it was reported that Aeroméxico reached an agreement with Aimia to receive financial support from $ 100 million with which it intends to stabilize the restructuring of its economic commitments after the damages suffered by the COVID-19 pandemic.
Through a notification sent to the Mexican Stock Exchange (BMV) it was indicated that the funds will leave PLM Premier, operator of your loyalty program Premier Club.
In this sense, and according to the available information, the loan is for $ 50 million that PLM will lend to Aeroméxico, through advance purchases of Premium tickets, and join others 50 million that had already been granted under a line of credit on May 12.
« The terms of the agreement are beneficial to both parties. But the client is at the center of the relationship between the two companies, ”said Andrés Conesa, general director of the Mexican airline in the letter sent to the BMV.
The required lifeguard
It is a very high bet, because according to El Financiero, the total support of 100 million dollars is guaranteed by the shareholding of Aeroméxico in PLM, in addition the document to the BMV indicates that with the financing an extension of 20 years on the contract to expand and strengthen the loyalty program.
This loan is given in a context in which the Mexican airline announced a financial restructuring plan to face the impacts it has suffered due to the coronavirus and the crisis in commercial aviation worldwide.
Also days after a possible bankruptcy of Aeroméxico in the United States has been speculated, this derived from a column published in a Mexican newspaper ten days ago, although the company has categorically denied it.
In this sense, receiving liquidity is essential for Aeroméxico, which is in the process of reactivating various flight routes in both domestic and international destinations, for which it has implemented a robust communication strategy that ranges from digital marketing, electronic media announcements, through e-mail marketing, all with the aim of projecting consumer confidence and encouraging them to return to travel.
A sector in crisis
The Mexican airline lives difficult moments, in the same way as many other companies in the sector.
We recall the cases of KLM and Lufthansa They have had to be rescued by the governments of the Netherlands and Germany, two greats that have failed to resist the crisis.
One that is very hard, in this regard, is worth remembering what was mentioned by Brand Finance, which in a recent report indicates that the aviation sector is especially hit by the coronavirus.
“The International Air Transport Association (IATA) has said that most carriers will fail within two months as a result of border closures by governments to contain the coronavirus outbreak. A large number of major airlines have landed most of their fleets and have announced plans to lay off thousands of employees, as they now face a crisis like never seen in the airline industry, « the document details.
This takes strength if we pay attention to what IATA revealed, noting that the impact on the global aviation industry will be reflected in a loss of approximately $ 130 billion for sale of plane tickets. Today, all airlines are looking to take off again, but they will have to be vigilant in order to convince customers to travel with them.
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