Two investor groups said to be willing to rescue Mexicana as GAP sues and passengers scramble
From La Jornada and Reuters
Two very strong groups of investors are interested in rescuing Mexicana Airlines, Secretary of Communications and Transport Juan Molinar Horcasitas revealed on Monday as the country's airport operators are feeling the pinch from Mexicana and its Click and Link subsidiaries cancelling flights.
At a press conference with Tourism Secretary Gloria Guevara, Molinar vowed that Mexicana will fly again if adequate financial, administrative and operational conditions are achieved.
Without revealing the two groups of investors, he said the government will give them legal certainty but no tax incentives.
Airport operator Grupo Aeroportuario del Pacifico, or GAP, appears most impacted by Mexicana's suspension because the three airlines generate 17 percent of its revenue. Today, Tuesday, the company initiated legal procedures against Mexicana to recover money it is owed, according to Milenio. Banamex also downgraded GAP shares from buy to hold.
