The airline Aeroméxico prepares its return to the Mexican Stock Exchange (BMV), as well as its future entry into the US stock market “As soon as the markets allow it,” Andrés Conesa, general director of the airline, revealed on Monday.
According to the director of Aeroméxico, his return and foray into Wall Street could take place between the second half of 2023 and 2024as part of its restructuring.
“Returning to being a company that is listed in the markets is a relevant issue,” he commented in the framework of the Tianguis Turístico 2023, which is being held these days at the Citibanamex Center in Mexico City.
The executive pointed out that they have not yet made a decision on which stock market they will seek to list in New York, so he did not rule out any option between the Dow Jones, Nasdaq and Standard & Poor’s.
In 2022, the group of shareholders of the Mexican airline decided to remove its titles from the Mexican stock market, while carrying out a restructuring process for the airline.
Strengthen Mexico-US relationship
For its part, Conesa stated that the airline is willing to collaborate in whatever the Mexican government requires to recover category 1 in aviation safety and that it lost in 2021since this would strengthen the offer of flights to the main commercial partner of the country.
The general director of Aeroméxico maintained that recovering category 1 will allow the company to make “much more efficient use” of its fleet.
“It is also one of the reasons why all this supply in the domestic market has increased and that it will continue,” he added.
Conesa also pointed out that the most important market for the country is the United States, as he emphasized that the border between Mexico and the United States “is the busiest border from an air point of view in the world.”
Unnecessary Cabotage
Conesa also spoke about the legal changes being promoted in the Mexican Congress to allow cabotage in the country and which would allow foreign airlines to operate domestic flights.
In this context, he said that Mexico does not have connectivity deficienciesso this policy is unnecessary.
“We have a country that is one of the best connected in the world, which would supposedly be sought with cabotage, which certainly does not exist anywhere in the world today,” he commented.
Likewise, the director of Aeroméxico also considered that A state airline would not pay the Mexican air sector eithergiven the historical background of this type of company in the sector.
“Regarding the State airline, we already had State airlines in the past and we saw what the consequences were in terms of connectivity in terms of service quality,” he said.
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