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Mexicana May Be Saved, but Only Time Will Tell

August 24, 2010 at 9:09 AM | by | Comments (0)

Mexicana has not been having a good August, but it looks like a group of fairly wealthy folks want to help the airline end 2010 with a smile.

A group of Mexican investors under the name of "Tenedora K" have put together enough money to buy 95 percent of the troubled airline. They left just enough for the pilots’ union to keep control of the remaining five percent. At this point, Mexicana has not released any information about their sale, but we’d expect to get some news any day now.

It’s pretty safe to assume that this little purchase cost these investors big time, but no official figures have been released just yet. The purchase seems to be just a first step towards fixing up and restructuring the largest airline in Mexico. For now, the lack of flights and ticket sales will remain while everyone tries to clean up the mess.

We’re not economists, nor do we pretend to be, but buying a going-out-of-business airline would probably get you fired from any season of The Apprentice. We’ll see how this goes, and we wish them well, because we enjoy traveling to Mexico. Tacos and tequila just aren’t the same when we’re buying them at Chili’s.

Related Stories:
· Mexican Group Buys Stake in Airline Mexicana-Advent [Reuters]
· Canceled Flights and Unpaid Pilots Aren't Good Signs for Mexicana [Jaunted]
· Airline News coverage [Jaunted]

[Photo: Ack Ook]

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