Aeroméxico’s US IPO to Redefine Its Role in the Post-Pandemic Sky

Aeroméxico, a major Mexican airline, has announced that it is targeting a valuation of up to $2.92 billion for its upcoming US initial public offering (IPO). The shares will be listed on the New York Stock Exchange under the ticker symbol “AERO”.

Together with several current shareholders, Aeroméxico aims to raise as much as $234.5 million through the sale of 11.7 million American Depositary Shares (ADSs), priced between $18 and $20 per share.

In addition, PAR Investment Partners will invest $25 million through a private placement at a slight discount to the IPO price.

The airline’s decision to go public follows its recovery from Chapter 11 bankruptcy, after the pandemic crippled global air travel and left the company with roughly $2 billion in debt.

Aeroméxico completed its restructuring in 2022, restoring its financial footing and opening the door to a new round of investment.

Supported by major backers such as Apollo Global Management and Delta Air Lines, Aeroméxico expects the IPO to strengthen its capital base and support its growth strategy.

The funds will be directed toward fleet modernization, route expansion, and debt reduction, helping the airline reinforce its presence in both the Mexican and Latin American markets.

Meanwhile, the company faces a regulatory challenge: The US Department of Transportation (DOT) recently ordered Delta and Aeroméxico to terminate their joint venture by January 2026, citing competitive concerns in US–Mexico routes.

The airlines believe the decision is unfair, arguing that ending the partnership threatens jobs, connectivity, and consumer benefits. As a result, Delta and Aeroméxico challenged the order in court, with the appeal currently under review.

Photo by Eduardo Cano Photo Co. on Unsplash