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Magnicharters Declared Bankrupt Following Heavy Debts and AOC Revocation

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Mexican carrier Magnicharters has been officially declared bankrupt by a federal judge. The court ruling brings an end to three decades of commercial operations following a severe financial crisis, the grounded status of its fleet, and accumulated liabilities reaching 800 million pesos.

Court Ruling and Asset Seizure

Tessy del Rocio Covarrubias, presiding judge of the First District Court for Commercial Insolvency Matters in Mexico City, formally initiated the bankruptcy liquidation phase for the airline. The decision was substantiated by widespread payment defaults on the part of the carrier, which had previously filed for insolvency proceedings (concurso mercantil) after acknowledging its inability to meet its financial obligations.

Under the provisions of Mexico’s Commercial Insolvency Law (Ley de Concursos Mercantiles), the judge ordered the receiver (sindico) to immediately begin proceedings to inventory and take possession of the company’s assets. The inventory and seizure procedures encompass:

To ensure procedural continuity, the ruling set a five-day deadline for the Ministry of Communications and Transportation (SCT) to propose a receiver. Following this, the Federal Institute of Commercial Insolvency Specialists (IFECOM) will have five business days to formalize the official appointment of the insolvency practitioner.

An 800-Million-Peso Financial Crisis

The company—owned by brothers Luis Augusto, Gabriel, and Jose David Bojorquez Maza—carried liabilities of approximately 800 million pesos distributed among creditors, vendors, ticketed passengers, and its own workforce.

Among these liabilities is a significant outstanding debt owed to Mexico City International Airport (AICM), where the airline owes roughly 80 million pesos covering:

Financial strain escalated noticeably in December 2025, when the airline ceased paying employee wages. The non-payment of salaries prompted a crew member to occupy an aircraft in protest over the labor violations. With its fleet reduced to just three aircraft prior to the cessation of operations, the carrier attempted to execute an emergency financial restructuring plan in April 2026, which ultimately failed to stem its corporate collapse.

Regulatory Revocation by the AFAC

The airline’s operational and financial deterioration prompted direct enforcement actions by Mexico’s civil aviation authorities. The Federal Civil Aviation Agency (AFAC) carried out oversight procedures that ultimately resulted in the permanent revocation of the carrier’s operating authority:

Timeline of Regulatory Intervention

With the pending appointment of a receiver by federal authorities and liquidation proceedings now underway, Magnicharters concludes 30 years in Mexico’s tourism and leisure aviation market. Commercial bankruptcy courts will now take full control of the remaining assets to settle claims with creditors and affected personnel.

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