Alejandro del Valle, president of Interjet: “The company does not have to be auctioned off, there is money to fly in 2024”

The distance that separates Interjet from earth to sky is measured in millions of dollars.

The directors of the Mexican airline that has been in decline since 2020, on the brink of bankruptcy and with debts of more than $800 million, are confident of achieving the feat of flying again.

More than three years after it stopped its flight and the strike broke out, the president of the company, Alejandro del Valle, points out that the resources exist to take off again starting in the second half of this year.

"The company does not have to be auctioned, there is enough money to pay 100% of the workers for their award, already won, and money to start the first flights," he declared this Thursday at a press conference.

The optimism of the Del Valle family is based on a small victory in favor of the 4,114 workers stranded after the firm's debacle.

This week the Government reported that 427 million pesos were recovered to liquidate the firm's employees.

This amount is added to the 353 million pesos obtained last October.

The Ministry of Communications and Transportation has announced that the dispersion of these resources will begin in February.

In total, the award that must be covered is for 1,800 million pesos.

Far from seeing the liquidation as a death certificate, Del Valle interprets the payment of the award as the first step to refloat his airline.

The businessman affirms that once the labor part is settled, he will be able to sit down with the Government to present a payment restructuring on the debt of 500 million dollars in taxes and payments for gasoline and airport fees.

The Interjet captain trusts that President López Obrador will authorize the payment of this large sum within a period of 36 months: “The Del Valle family is responsible for paying 100% of the taxes, even though we have not generated or spent them, “We bought the plane with unpaid license plates and possession,” he says.

In addition, the still owners of Interjet will have to renegotiate another 200 million dollars with their creditors.

However, Del Valle says that they will be able to convince their creditors of a new restructuring, within a period of five years.

Finally, they still have to reconcile with the Federal Consumer Prosecutor's Office (Profeco) the compensation they must pay to the 6,000 travelers who were affected by the company's debacle.

The businessman has emphasized that the company's situation

in extremis

is the result of embezzlements by previous employees and directors of the firm: "The company did not go bankrupt, the company was looted," he mentions.

Despite the uphill climb in debts, Del Valle assures that the airline is a profitable business, with assets of 1.25 billion dollars.

This appraisal covers 22 aircraft, spare parts, simulators, offices and maintenance, repair and overhaul (MRO) spaces in aviation.

The president of the company assured that there are investment funds from Miami interested in funding the airline with more than 600 million dollars.

5 planes, 22 routes and flights 5% cheaper than Aeroméxico: Interjet's new route

Although Interjet has been on the ground for more than three years, it has already designed its new flight plan.

Luis Bertrand Rubio, director of Interjet, indicated that once they receive the green light from the Government they will take to the skies with five planes and an offer of 21 national routes and one international.

The vast majority of its aircraft will take off from the Felipe Ángeles International Airport (AIFA) and the Toluca airfield, only 10% of its flights would depart from the Mexico City International Airport (AICM).

The manager said that competitive salaries will be offered to pilots and flight attendants, although a reduction will be applied to management positions to control expenses.

“We hope to begin rehiring 700 employees, including mechanics, pilots, flight attendants, administrative staff, among others.

We are on a very good path, it has been tortuous, yes, but we believe that we are going to be successful,” he details.

Bertrand Rubio assured that once in the air they will offer flights 5% lower than Aeroméxico, so they would not be a low-cost airline like Volaris or Viva Aerobus.

Interjet plans to resume the pace with the offer that once made them successful: Cancún, Guadalajara and San Antonio in the United States with a load factor of 68%, initially.

Although now due to the strike process the maintenance workshops are closed, the manager is confident that once the labor conflict is resolved they will reactivate the certification of the Federal Civil Aviation Agency (AFAC) to operate at these sites.

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