Air Transport World

Mexicana Airlines.(LATIN AMERICA/CARIBBEAN Report)(Brief article)

Mexicana Airlines suspended operations on Aug. 28, citing its "delicate financial situation." The carrier had been operating under creditor protection in both Mexico and the US since Aug. 3 and a Mexican business consortium called Tenedora K had acquired 95% of MX holding company Nuevo Grupo Aeronautico from Grupo Posadas in an attempt to rescue it.

The new management said in a statement that it had failed "to reach agreements that would allow for the capitalization" of Mexicana. Previous management had been seeking steep labor concessions. …

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