Investors from several countries interested in reviving Mexicana Airlines.

There is interest from Chinese, U.S., European and even Mexican investors to capitalize and resume Mexicana de Aviación, an airline that ceased operations almost 11 years ago and has been in the tourist industry for a century, revealed Miguel Ángel Yúdico Colín, general secretary of the National Union of Transport, Transformation, Aviation, Services and Similar Workers (SNTTTASS).

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“There are Chinese investors interested in capitalizing Mexicana de Aviacion, there are also U.S., European and Mexican investors,” said Yúdico, Forbes reported.

A decade ago there were private Mexican and foreign investors with the money to rescue Mexicana de Aviación, but the former president of Mexico, Felipe Calderón Hinojosa, blocked all interested parties, said the union leader during the celebrations of the defunct company called “Mexicana: A Century of Mexico’s First Airline”.

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Mexicana de Aviación stopped flying on August 28, 2010 to restructure its debts with its creditors. A few months later it was declared bankrupt.

China Southern Airlines is one of the companies interested in capitalizing Mexicana de Aviación, but the main obstacle has been the labor liabilities of 9 billion pesos, said Fausto Guerrero, president of the Association of Retirees, Workers and Former Workers of Mexicana Airlines (AJTEMA).

“It is important to solve the problem of labor liabilities so that the company is born without any debts, because the insolvency proceeding gave 98% of all debts to be waived,” he commented.

Guerrero recalled that they have also had discussions with other investors, whose names cannot be disclosed.

Photo: Maarten Visser/Wikimedia

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