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.
Stricken airline Mexicana de Aviación has said it expects to be granted a three month extension to bankruptcy protection as it seeks to return to the skies. The airline was granted protection from creditors on September 28th last year.
United Continental Holdings has launched a series of new departures to Mexico in an attempt to replace Mexicana as the dominant carrier in the region. While the Mexican carrier is seeking to relaunch later this year, UCH will begin offering improved services to Leon/Guanajuato, Cancun, and Mexico City in the interim.
Compania Mexicana de Aviación SA is considering plans to shed half its workforce as it seeks to return to the skies in December. A new, leaner, airline would fly just 30 aircraft on 23 routes, six of them domestic and 17 international, mostly to the US and Canada, officials have revealed.
Mexicana de Aviacion has suspended all flights, three weeks after filing for bankruptcy protection as a last-minute rescue package failed to materialise.
A consortium of Mexican businessmen has bought a 95 percent stake in the holding company that controls Mexicana, in a deal that is hoped will secure the fortunes of the troubled carrier.
Mexicana de Aviación chief executive Manuel Borja has confirmed the stricken airline will require an immediate investment of between $100 million and $150 million. The funds would allow the airline to keep flying, following deals with staff to reduced pay in exchange for a stake in the company.
Mexicana de Aviación has secured a potentially significant victory as it battles for survival, with cabin crew at the troubled airline agreeing to defer wages. Crew will postpone payment for up to two months, with pilots at Mexico’s largest airline considering a similar move.
Mexicana Airlines has suspended all flights from London Gatwick to Mexico City after filing for bankruptcy protection last week. The route, which was launched in October 2008, is one of 18 being halted over the next two days as the airline undergoes a financial restructuring programme as it bids to slash its £628 million debt mountain.
Mexican airline Mexicana de Aviación has secured bankruptcy protection, allowing the carrier to continue operations during its financial restructuring. While ticket sales have been suspended following route cuts earlier this week, the airline continues to insist departures will continue to operate as normal.
Mexicana’s position in the oneworld® alliance is unaffected by the announcement today that the airline has filed for insolvency proceedings in Mexico and bankruptcy protection in the USA to enable it to restructure into line with market conditions.
The crisis at Mexicana de Aviacion appeared to deepen last night as the airline indefinitely suspended ticket sales as it struggles to restructure its debts. However, the airline insisted it would continue to operate flights as it sought a “positive outcome” with employees and creditors.