By Kylie Madry
MEXICO CITY (Reuters) – Market conditions are currently not ideal for Mexican airline Aeromexico to list in New York, the firm’s CEO said on Tuesday, after plans to go public were delayed last year.
Aeromexico CEO Andres Conesa told journalists that the carrier would list “as soon as market conditions allow,” but did not explain further.
“We aren’t in a rush,” Conesa said, adding the initial public offering (IPO) would come “whenever shareholders decide to sell.”
Aeromexico, a Mexican legacy airline, had long been a presence on the nation’s main stock exchange. But it delisted as part of Chapter 11 bankruptcy proceedings, which it came out of in 2022.
Some of the carrier’s largest shareholders after Chapter 11 include private equity firm Apollo Management, investment firm Silver Point Capital and Delta Air Lines, with which Aeromexico has a joint venture.
Last year, Aeromexico filed plans to list on the New York Stock Exchange under the ticker “AERO.” Its shareholders were set to sell American Depositary Shares (ADSs) in the IPO, but the carrier did not disclose the size or the price range of the offering.
Media reported at the time that Aeromexico investors were seeking up to $500 million with the IPO, but that factors such as Mexico’s presidential elections last year made the timing uncertain.
(Reporting by Kylie Madry; Editing by Sarah Morland)
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