Loading
11-Aug-2010 1:55 PM

Mexicana in need of up to USD150m to survive

Mexicana’s CEO Manuel Borja, stated the carrier requires a cash injection of between USD100 million and USD150 million to keep it flying (Reuters/AP, 10-Aug-2010). The carrier also restored its Mexico City-London and Mexico City-Madrid routes after suspending a number of services on the weekend.

Mexicana offered its pilots and flight attendants unions a stake in the carrier in exchange for new labour terms (Bloomberg, 11-Aug-2010). The carrier said it is inviting a group of “complementary investors” and that current stakeholders are willing to dilute their participation in the company. The pilots union is reportedly interested in buying a stake and would modify its contract to secure a deal.

Want More News Like This?

CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More