Enlist in Interjet commercial competition


Interjet launched a call to its shareholders for an Extraordinary General Assembly in which the commercial competition that the company will start will be discussed and approved.

The meeting will be held on April 26 in Santa Fe, Mexico City, and will be presented for approval of the airline's commercial competition, read in the call.

In addition, the company's financial information for 2020 and the first quarter of 2021 will be reviewed and endorsed.

The company will also seek validation of the advisors it hired for that process.

Interjet clarified that only persons registered as shareholders in the share register book, as well as those who submit records of deposited shares issued by any institution for the deposit of securities, shall have the right to appear or be represented at the assembly.

"Every shareholder has the right, subject to compliance with these social statutes, to attend the assembly personally or through proxy," he recalled.

In the latter case, shareholders may be represented in the Assembly by the person or persons appointing them as written proxy or with general or special power granted under applicable law.

The call is signed by Alberto Manuel Mena Acraa of the firm Mena Contadores 1915.

In a press release, Interjet reported that it hired three companies for legal, tax and financial advice for its restructuring process.

In the legal part will be represented by the firm Alarcón & Méndez, in the tax analysis by Mena Contadores 1915, while in the financial advice will be assisted by Grupo Agross, he described.

According to its official site, Alarcón & Méndez is a firm with 20 years of experience in corporate, financial, fiscal, administrative, commercial, labor, environmental and energy law.

Grupo Agross mentions on its page that it offers value-added advisory services to companies and lenders facing restructuring.

He points out that he has 40 years of experience in processes in both Europe and Latin America.

Mena Contadores 1915 has as its holder the accountant Alberto Mena Acr, belonging to the College of Public Accountants of the Valley of Toluca.

With this process, Interjet seeks debt restructuring for $250 million.

On March 22, it was announced that the company would enter a commercial competition and subsequently initiate a restructuring under Chapter 11 of the U.S. Bankruptcy Act to heal its debts.

In the face of the financial crisis, the airline finally suspended operations last December.

Commitments

Interjet accumulates debts of approximately $250 million as a result of mismanagement.

Some amounts to cover:

400 million owes Sukhoi for Sukhoi Superjet 100 aircraft.

$250 million in taxes from 2013 to 2017.

$140 million to aircraft leasers.

$25 million for unpaid wages to employees.

· Last December 11, the airline suspended operations.

· On January 8, the nearly 5,000 employees went off on strike.

· They claim payment of eight fortnights of salary, aguinaldos, savings and other benefits.


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