Interjet has definitively ruled out the acquisition of rival Mexicana, which was grounded last year following financial difficulties.
Mexicana cancelled all flights in August last year and has since seen a number of come back plans scuppered.
In a newspaper announcement, Interjet confirmed its board had been asked to consider taking on the business by a third party.
However, following a review of the possibilities, Interjet had decided not act.
“We are aware of the difficult situation Mexicana’s workers are going through, and we sincerely hope that their rights are safeguarded in the process,” Interjet said.
Interjet is a low-cost airline with its headquarters in Lomas de Chapultepec,
The carrier pulled the plug on its planned initial public offering earlier this year due to uncertainty on global markets.
However it has outlined aggressive expansion plans that call for more routes and a larger fleet.