Aeromexico has been steadily reducing the size of its fleet in the last few months. It has already reduced from six aircraft types to five, following the exit of the Embraer E170 that operated with Aeromexico Connect.
Aeromexico moved forward with its reorganization plan during the weekend, retiring the first Boeing 787-8 it received, registration N961AM. Let’s take a quick view of Aeromexico’s current fleet.
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Last year, Aeromexico received authorization from the US court to shift many of its leasing contracts to Power By Hour arrangements. The airline has repeatedly pointed out that it will continue reducing the size of its fleet. It has to adapt it to the current COVID-19 environment.
What other aircraft could we see exit Aeromexico?
Aeromexico is not informing, at the moment, what other airplanes could exit its fleet in the near future. Nevertheless, we could see some trends. The airline still has to receive four Boeing 787-9s. Given the state of the current international demand, we expect Aeromexico to simply upgauge its fleet. That means at least four Boeing 787-8s could be retired.
The Boeing 737-700 fleet is also on the spot. In December, Aeromexico reactivated its MAX fleet. It currently has six 737 MAX8, and yet to receive many more. Therefore, the older 737-700 could leave the company, as well as a few 737-800.
The Embraer E190 fleet is currently the biggest mystery, as it serves Aeromexico Connect perfectly for domestic point-to-point routes. Before the COVID-19 pandemic, Aeromexico was exploring options on how to upgrade its Connect fleet. There were rumors that the Mexican airline could place an Airbus A220 or an Embraer E195-E2 order. For the foreseeable future, those plans are on the shelf.
Aeromexico continues with its Chapter 11 bankruptcy. Last week, Aeromexico and its Unions signed new CBA agreements, meaning the airline is set to continue its financial reorganization. It can access up to $625 million, invested by Apollo Global Management.
Nevertheless, the airline still has to present its reorganization plan to the court. The COVID-19 pandemic continues to cripple the aviation recovery. Mexico will face a slower demand following the US and Canada travel restrictions. We’ll have to see how Aeromexico and Delta react to that.
Finally, Aeromexico still has to publish its fourth-quarter financial results.