23-Aug-2010 12:48 PM

Mexican consortium purchases parent of Mexicana

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.