Consortium takes control of Mexicana

: Latest News; Monday, 23 August 2010

A consortium of Mexican investors has acquired 95 per cent of Mexico's Mexicana de Aviacion airline, which earlier this month filed for bankruptcy protection.

The Tenedora K group said the acquisition was only the first step of a process to recapitalise the airline and bring it out of court-supervised bankruptcy protection.

No payment details have been announced, but Mexicana's holding company's principal shareholder, hotel group Posadas, said it sold its 30.4 per cent stake for "a symbolic" amount.

Consortium takes control of Mexicana

Latest News

Monday, 23 August 2010

A consortium of Mexican investors has acquired 95 per cent of Mexico's Mexicana de Aviacion airline, which earlier this month filed for bankruptcy protection.

The Tenedora K group said the acquisition was only the first step of a process to recapitalise the airline and bring it out of court-supervised bankruptcy protection.

No payment details have been announced, but Mexicana's holding company's principal shareholder, hotel group Posadas, said it sold its 30.4 per cent stake for "a symbolic" amount.