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Mexican airline sale to go ahead

The holding firm for Mexico’s state-owned airlines, Cintra has confirmed that the sale of its two leading carriers will take place this year as planned, in a bid to calm investors who are fearful of only a limited interest.

Cintra’s President Andres Conesa insisted to analysts that there was a good group of potential bidders interested in the holding’s Aeromexico and Mexicana airlines.

“This gives us a good chance to finish on time by the end of November,” Conesa is quoted as saying.

The stock surged at the end of last year but has fallen as confidence in the quality and quantity of the bidders has diminished. Iberia pulled out of the process last week because it said that the conditions were “not optimal”, though other big players like the tourism group Globalia remain.