American Airlines claims no interest in Mexicana stake
American Airlines claims it has no interest in acquiring a stake in Mexicana and participating in an attempt by a consortium of investors to potentially relaunch its fellow oneworld member (CNNExpansion.com, 26-Apr-2011). BT Group claimed earlier this month American had agreed to join its project to acquire Mexicana. But American calls this claim “unprofessional”, “completely false” and “extremely wrong”. BT Group was aiming for US investors, including American and a US investment firm, to assume a 25% stake in the new Mexicana. This is the maximum allowed for foreign ownership of airlines under Mexican regulations. Mexicana has been grounded since Aug-2010, when it ceased operations and declared bankruptcy. There have since been several unsuccessful attempts to re-launch the carrier as potential new investors repeatedly refuse to put in any money into the project.