What Happened
Mexican Carrier Seeks Shareholder Approval For Repurchase Plan
Aeroméxico has announced plans to submit a proposal to shareholders for a share repurchase program, authorizing up to $100 million annually. The initiative aims to return value to the company’s common shareholders and ADR holders. This development follows a major legal victory in US federal court, where the US Court of Appeals for the Eleventh Circuit ruled in favor of Aeroméxico and Delta Air Lines, preserving their cross-border alliance. According to the company, the share repurchase program will be executed at the company’s discretion, depending on available liquidity and market conditions. This news was reported by Unknown Source.