Mexican carrier Aeromexico, which filed for chapter 11 protection in the United States at the end of June, said yesterday that it has lined up $1 billion in debtor-in-possession financing with Apollo Global Management Inc., Reuters reported. The DIP facility consists of two tranches and can only be used for certain expenses, including working capital expenses, general corporate purposes and restructuring costs. The DIP facility, still subject to bankruptcy court approval and other agreements, will provide Aeromexico with liquidity to meet its future obligations in a timely and orderly fashion, and to continue with operations during and after the restructuring process, the firm said.
