Spanish investor acquires bankrupt Mexicana, may relaunch in June (Air Transport World)

May 25, 2012

Mexicana Airlines (MX), which suspended operations under severe financial distress in August 2010, may relaunch operations June 9 after Spanish hotel and air transport group Med Atlantica acquired 95% of the bankrupt carrier’s shares (ATW Daily News, Aug. 30, 2010).

Federal judge Felipe Consuelo accepted and approved the deal, based on Med Atlantica’s ability to take over the airline from major shareholder Tenedora K business group, according to Mexican press. The company had 95% shares in holding company Nuevo Grupo Aeronáutico, which also owned subsidiaries Mexicana Click and Mexicana Link. The Mexican Airline Pilots Union (ASPA) owned the remaining 5%, which also have been purchased by the Spanish group.

Read complete article in Air Transport World Online website

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