Mexicana May Seek Creditor Protection

[digitalmisanthrope]

..says its unions - http://www.reuters.com/article/idUSN2911976620100729

Sporadic reports are saying their aircraft (319s) in YYC & YUL have been seized (possible leases from AC).

[zorn]

..says its unions - http://www.reuters.com/article/idUSN2911976620100729

Sporadic reports are saying their aircraft (319s) in YYC & YUL have been seized (possible leases from AC).

From mexicana.com:

Mexico City, July 29, 2010.- CMA informs that flights MX881 Montreal – México City and MX871 Calgary – México City were canceled as a direct result of grounding actions requested by a creditor to Canadian authorities in order to clarify the ongoing rumors about CMA’s debt fulfillments.

The Airline considers that the measures taken by the lessor are legally unjustified and a direct consequence of erroneous information provided by different media outlets. CMA is actively working with the authorities involved in order to resolve these issues as soon as possible to minimize any further disruption to its passengers.

In order to reduce any further inconvenience CMA will protect its passengers on own or commercial partners’ flights.

[Cloud Lounger]

http://www.theglobeandmail.com/globe-in ... le1687905/

Mexico City

Reuters
Published on Friday, Aug. 27, 2010 3:58PM EDT

Last updated on Friday, Aug. 27, 2010 4:29PM EDT


Mexicana de Aviacion, one of Mexico’s two major airlines, will cease operations by midday Saturday, Mexico’s Transport Minister Juan Molinar told reporters Friday.

“At midnight, a gradual shutdown will begin,” Mr. Molinar said at a news conference. “By Saturday at noon, operations will definitively cease.”

Two budget carriers affiliated with Mexicana, Link and Click, will also stop flying, Mr. Molinar said.

The 89-year-old airline filed for protection from creditors at the beginning of the month but struggled to find a buyer willing to help restructure its $800-million debt load.