Troubled Mexican airline may resume operations

16:11, September 24, 2010      

Email | Print | Subscribe | Comments | Forum 

Investors may restart Compania Mexicana de Aviacion (CMA),the troubled Mexican airline that halted operations in August this year, a union leader said.

Three groups of investors have held meetings with the two related unions,the Airline Pilots Association (ASPA) and Flight Attendants Union (ASSA), ASSA leader Lizette Clavel was quoted as saying by local newspaper Reforma on the website Thursday.

The airline's former owner, hotel magnate Angel Lozada, was leading one of the investor groups, which also include U.S. and Middle East investors, an ASPA official said.

CMA was founded in 1921 and was Mexico's first airline. It suspended operations on Aug. 28 this year due to financial troubles.

Prior to the shutdown, 95 percent of CMA was sold to an investment group called Tenedora K., and the remaining 5 percent was given to unions in exchange for an agreement on payment reduction.

Since Aug. 4 this year, CMA has been trying to work out a plan with debtors, under provisions that allow it to suspend payments for a year.

Source: Xinhua


  • Do you have anything to say?


Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • Chinese Navy soldiers hold an evening party marking the upcoming 62nd National Day aboard Chinese Navy hospital ship "Peace Ark" in the Pacific on Sept. 28, 2011. The Chinese National Day falls on Oct. 1. (Xinhua/Zha Chunming)
  • Photo taken on Sept. 30, 2011 shows the crowd at the plaza of Beijing Railway Station in Beijing, capital of China. The railway transportation witnessed a travel peak with the approach of the seven-day National Day holidays on Friday. (Xinhua)
  • A man wearing high-heel shoes takes part in the 3rd annual Walk a Mile in Her Shoes, an event when men literally walk in women's shoes to raise awareness about ending violence against women, at Yonge-Dundas Square in Toronto, Canada, Sept. 29, 2011. (Xinhua/Zou Zheng)
  • Photo taken on Sept. 29, 2011 shows a cargo ship in danger on the sea near Zhuhai City, south China's Guangdong Province. Cargo ship Fangzhou 6 of Qingzhou of southwest China's Guangxi Zhuang Autonomous Region lost control after water stormed into its cabin due to Typhoon Nesat on the sea near Zhuhai Thursday, leaving 12 crew members in danger. Rescuers rushed to the ship and saved them by using a helicopter. (Xinhua)
  • Actress Gong Li poses for L'Officiel Magazine. (Xinhua Photo)
  • Demonstrators from the Occupy Wall Street campaign hold placards as they march in the financial district of New York September 29, 2011. After hundreds of protesters were denied access to some areas outside the New York Stock Exchange on September 17, demonstrators set up a rag-tag camp three blocks away. Zuccotti Park is a campground festooned with placards and anti-Wall Street slogans. The group is adding complaints of excessive police force against protesters and police treatment of ethnic minorities and Muslims to its grievances list, which includes bank bailouts, foreclosures and high unemployment. (Xinhua/Reuters Photo)
Hot Forum Discussion