8-Sep-2010 12:50 PM

Mexicana's parent receives creditor protection from judge

Mexicana’s parent, Grupo Mexicana, received creditor protection from a Mexican judge allowing the Communications and Transport Ministry to name an administrator for the carrier as well as an arbitrator in its restructuring process (Dow Jones, 07-Sep-2010). Tenedora K, a group of Mexican investors including Grupo Industrial Omega and the carrier’s pilot unions, purchased a 95% stake in Grupo Mexicana on 21-Aug-2010 in a bid to save the carrier and confront its USD1 billion debt.