Embattled airline Mexicana to stop flying
August 28th, 2010 - 9:50 am ICT by IANSMexico City, Aug 28 (DPA) Mexicana, Mexico’s largest airline by passengers carried, will halt all flights Saturday, Transportation Minister Juan Molinar Horcasitas announced in Mexico City.
The action was announced after Tenedora K, an investor group that has acquired most of the embattled carrier’s shares, announced that it was still seeking additional investors. The newspaper El Universal quoted Horcasitas as saying Friday that Tenedora K could not keep Compania Mexicana de Aviacion afloat by itself.
Mexico’s oldest airline had filed for bankruptcy protection earlier in August. Its holding company also owns budget carriers Click and Link.
Last year’s flu outbreak damaged Mexico’s vital tourism industry and hit Mexicana hard. The airline’s pilot union has blocked company efforts to reduce labour costs.
- Prospective buyer for Mexican airline puts money on table - Nov 19, 2011
- Pilots get stake in Mexican airline - Jan 26, 2011
- Mexican airline to eliminate half of workforce - Sep 29, 2010
- Mexican airline to return to the skies under new owners - Feb 26, 2012
- Mexican airline flight attendants pose for Playboy - Apr 06, 2011
- Families in Mexico daycare fire make film to demand justice - Jun 04, 2011
- Out of work Mexicana airline stewardesses launch their own swimsuit calendar - Nov 29, 2010
- American Airlines may cut 13,000 jobs - Feb 02, 2012
- UAE, Panama sign 'open sky' agreement - Nov 17, 2010
- Mexico to launch three new satellites - Oct 06, 2010
- Police storm hijacked plane in Mexico, passengers safe (lead) - Sep 10, 2009
- Kingfisher's firm operating schedule in a few days: Mallya - Mar 15, 2012
- Mexico suspends road projects amid economic crisis - Aug 15, 2009
- Carlos Slim's firm to acquire US company - May 11, 2012
- Spanish airline files for bankruptcy - Jan 31, 2012
Tags: airline, bankruptcy protection, budget carriers, compania mexicana de aviacion, company efforts, dpa, el universal, flu, flu outbreak, holding company, investor group, juan molinar horcasitas, labour costs, mexicana de aviacion, mexicana mexico, mexico city, molinar, pilot union, tourism industry, transportation minister