Delta to receive 20% of new shares of Aeromexico under restructuring plan

FILE PHOTO: Aeromexico airplanes are pictured at the Benito Juarez International airport, in Mexico City, Mexico, July 14, 2021. Picture taken July 14, 2021. REUTERS/Luis Cortes

(Reuters) - Delta Air Lines will receive 20% of new shares of Aeromexico under the Mexican carrier’s Chapter 11 bankruptcy restructuring plan, according to a U.S. court document filed late on Friday.

“Delta shall receive 20.0% of all new shares issued under the Chapter 11 plan,” the document said. “(Which shall represent 20.0% of the capital stock of reorganized gruop on the effective date (subject to the specified dilution),” it added.

Reporting by Jonathan Stempel, writing by Laura Gottesdiener