27-Jan-2011 4:32 PM

Mexico’s Airline Pilots Association to gain a 2.8% stake in Mexicana

Mexico’s Airline Pilots Association (ASPA), representing Mexicana’s pilots, will receive a 2.8% stake in the carrier as compensation for unpaid wages after the carrier filed for bankruptcy in 2010 (Sify News/IANS, 26-Jan-2011). ASPA’s leader, Fernando Perfecto, stated once the shareholdings of Mexicana are completely determined, the owners of private equity group PC Capital will eliminate 75% of the carrier's workers, including flight attendants, pilots and ground support personnel, and pay them USD166 million.