The story
Foundation and development
The airline was established on January 29, 1987, and started operations on November 7, 1987, as Transportes Aeromar.
It was owned by Grupo Aeromar (a private company) (99.99%) and had 864 employees in July 2010. On April 1, 2010, Aeromar signed a commercial alliance with Continental Airlines. Aeromar then announced it would lease two Bombardier CRJ200 regional jets. These twin-jet aircraft were subsequently removed from the airline's fleet.
On August 30, 2010, Aeromar and Continental Airlines announced a frequent flyer partnership that allowed each carrier's passengers to earn and redeem miles on either airline. In addition, Continental international first and business class passengers, Presidents Club members, and Star Alliance Gold customers were able to access Aeromar's Salon Aeromar lounge in Mexico City at that time. When Continental Airlines merged into United Airlines, the codeshare agreement was transferred over to United.
As of 2018, Avianca had expressed interest in acquiring or merging with Aeromar to become "Avianca Mexico". The airline awaited a 100 million USD injection from Avianca's parent company, Synergy Group. Avianca would've had to first acquire up to 49% of the airline over the next five months. The deal did not go through.
Demise
As of 2023, it was reported that the airline was $600 million USD in debt, primarily due to efforts to avoid a Mexican government financial collapse, and faced the possibility of cessation of operations after February 14, 2023. Operations had declined since 2020, impacted by the COVID-19 pandemic. At the same time, reports also emerged that Brazilian start-up carrier Nella Linhas Aéreas had acquired Aeromar, according to logo updates on its official website and social platforms. The deal was reported to be pending, but would not proceed if debts were not canceled by the Mexican Federal Government.
Aeromar announced on February 15, 2023, the definitive cessation of its operations, due to financial problems, after 35 years of flying uninterruptedly in Mexico, the United States, and Cuba. Aeromar owes over MX$5 billion pesos (US$268 million) to different creditors, including the Mexican authorities. Several laid off employees have been offered jobs for airlines such as Aeroméxico, Aerus, and Volaris.
From Wikipedia’s article on Aeromar, shared under CC BY-SA 4.0.4
