Texas Border Business
MEXICO – Aeromar announced yesterday the end of its operations in Mexico, the United States, and Cuba due to financial problems.
The decision is also due to the difficulty of the airline to close agreements with viable conditions that ensure its operations in the long term.
“The company’s team made deep financial adjustments to improve its situation,” the company detailed yesterday.
“However, at an adverse time, aggravated during the Covid-19 pandemic, the measures taken were not enough to stabilize the company’s situation.”
One of Aeromar’s main debts is with the Mexico City International Airport (AICM), to which it owes more than 500 million pesos (approximately $26,854,000.00 USD) for jet fuel. The debt couldn’t be covered yesterday because of the ultimatum issued to the company by Ciudad de Mexico International.
The Ministry of Labor reported that to guarantee payment to the worker force, the assets of the airline, which had been flying uninterruptedly for 35 years, were seized.