LatinNews Daily - 11 April 2023

In brief: Mexican airline Interjet declared bankrupt

* Alejandro del Valle de la Vega, the president of Mexican airline Interjet, has announced that the airline is on track to finish its financial restructuring plan, as part of its bankruptcy process. The airline ceased operations in 2020, after it went into administration following a strike by its employees to demand payment of overdue salaries and benefits. Earlier this month, a district judge in commercial bankruptcy matters declared Interjet’s bankruptcy process open and ordered that its assets be auctioned in order to cover debts owed to creditors. Del Valle, whose son Carlos del Valle is leading the restructuring process along with investment bank Morgan Stanley, said that the airline would ensure the legal demands of workers were met, outstanding taxes paid, and passengers compensated. He claimed that the airline should begin flying again by the end of the year, once it had exited bankruptcy. The airline had previously said it would restart operations in 2022.

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