Nuevo Grupo Aeronautico SA, the holding company for Compania Mexicana de Aviacion, was purchased on 21-Aug-2010 by Tenedora K, a group of Mexican investors including Grupo Industrial Omega, Grupo Arizan and the country’s pilots’ union (Bloomberg, 22-Aug-2010). Tenedora K purchased 95% of the carrier’s shares while the pilots union owns the remaining 5% stake. The consortium purchased the carrier’s parent in a bid to save the carrier and confront its USD800 million debt.
Mexican consortium purchases parent of Mexicana
You may also be interested in the following articles...
HNA's Avolon group to acquire CIT Commercial Air, creating world’s third largest aircraft lessor
HNA Group’s remarkable spending spree continues, with the announcement that its Avolon subsidiary will acquire CIT Commercial Air, the aircraft leasing arm of CIT Group.
The USD10 billion deal will create the world’s third largest lessor - and they may be more to come yet.
Avolon itself was only recently acquired by HNA Group, with the USD2.7 billion purchase agreement being finalised in Jan-2016, via Bohai Capital Holdings.
Avolon is now the core aircraft leasing brand for the HNA Group. Including assets from Hong Kong Aviation Capital, Bohai Capital and several smaller HNA Group leasing firms, Avolon has a fleet of nearly 250 aircraft and almost 200 more on order.
Aeromexico takes a bold stand against Donald Trump as its JV with Delta hangs in the balance
Airlines have largely been mute about the rise of the presumptive US Republican presidential nominee Donald Trump and some of his outlandish proposals, including the proposed wall to be erected on the US-Mexico border, which he believes Mexico – the US’ largest trading partner in Latin America – should pay for.
But Mexico’s largest airline Aeromexico has drawn a line in the sand with a new ad that subtly takes aim at Mr Trump’s proposal. It is a commendable move for Aeromexico, which is attempting to establish a strategic cross-border joint venture with its SkyTeam partner Delta Air Lines, just as Mr Trump proposes to erect borders.
The message of tolerance and of borderless air travel featured in the ad is against a backdrop of the ever-growing US-Mexico air travel market, which is strategic for US and Mexican airlines alike. More than anything, Aeromexico has to make moves to preserve business in one of its most lucrative and strategic markets.