Mexicana grounded as revival bid fails

Mexicana grounded as revival bid fails

Mexico airline Mexicana shut down all operations over the weekend after a last-ditch bid to revive it failed.


The airline, which operated a route from Gatwick, suspended operations on Saturday almost a month after filing for US bankruptcy protection.


Oneworld alliance partner American Airlines stepped in to offer a 20% discount of any published fare for passengers holding tickets for confirmed bookings on cancelled Mexicana flights between the US and Mexico until October 28.


Investor group Tenedora K had bought the majority of Mexicana last week in the hope of being able to refinance the airline.


Mexicana and low-cost MexicanaLink and MexicanaClick halted operations at the weekend “indefinitely”, said Nuevo Grupo Aeronautico SA, the holding company for the airline.


The group operated 69 aircraft under the Mexicana brand and 35 aircraft under MexicanaClick, which it started in 2005. MexicanaLink, a separate unit which opened last year, had 15 aircraft.


Mexico’s communications and transportation minister Juan Molinar Horcasitas was reported as saying: “Meetings are continuing with a diverse group of investors that have shown a very clear interest in restructuring the companies.”

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