Approval on a
$200 million investment could revive the bankrupt airline
Mexicana expects approval on the $200 million investment

 

Bankrupt carrier Mexicana Airlines is awaiting government approval on a $200 million private investment that could help revive the company.

 

Reports indicate that the airline, whose controlling shares were acquired yesterday by PC Capital SAPI, will liquidate its current workforce and restart operations completely following approval of the investment.

 

Mexicana is expected to eventually re-hire about 4,000 workers.

 

The airline ceased operations last August after filing for bankruptcy protection in both the United States and Mexico. Before bankruptcy, Mexicana was Mexico’s largest airline, with over 65 national and international destinations.

 

The airline carried nearly 7 million passengers in 2009, its last full year of operation. 

 

Source: Bloomberg

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