Mexicana's flights to Mexico and popular Cancun holidays rescued by a private consortium
In a life-saving move to keep Mexicana de Aviacion flying, a consortium of Mexican businessmen
Coming quick to the rescue of Mexicana and its set of flights connecting millions of worldwide passengers to Mexico and Cancun holidays, a consortium of Mexican businessmen has bought a 95% stake in the holding company that controls Mexicana, in a deal that is hoped will secure the fortunes of the troubled carrier and ensure it keeps flying many international travellers to and from Mexico holidays.
It was U.S. private equity group Advent International who arranged the acquisition for the consortium, which is called Tenedora K.
The consortium bought 95 % of Nuevo Grupo Aeronautico, which controls Mexicana as well as domestic airlines operating flights between Mexican cities and districts as well as popular resort and connecting holidays in Mexico City D.F. for example with Cancun holidays in Mexico's Caribbean Gulf. Mexicana Click and Mexicana Link, according to a statement released by Advent International.
Nevertheless, Advent itself has not invested in the deal.
Mexicana, one of the country’s two major airlines and the third longest-serving airline in the world, had cut more than a dozen international routes and stopped selling tickets after requesting creditor protection earlier this month under Mexico’s insolvency laws, thus putting many Mexico and Cancun holidays hopefuls.
“Tenedora K is a company formed by a group of Mexican businessmen as a vehicle to capitalise the mentioned airlines, with the aim of rescuing them from the critical financial and operating situation they are in,” the statement release stated.
The statement also revealed that Grupo Industrial Omega and Grupo Arizan are among the shareholders of Tenedora K.
On the other hand, Mexican hotel operator Grupo Posadas confirmed last Friday that it had sold its 30 % share of Nuevo Grupo Aeronautico to the new investors.
The statement also unveiled that the remaining 5 % state in the holding company is being held by the pilots union.
Talk to a specialist
Call 020 7644 1770 to speak with our award-winning travel consultants.
Opening hours 10:30 - 18:30 GMT
Popular Holidays Browse all
Make your trip to Phuket one to remember at romantic and secluded Rawai beach
- Perfect for families or couples searching for their own slice of paradise
- Free shuttle services to Ya Nui beach, Nai Harn beach and Kata beach
- Free upgrade to Deluxe Pool View
Treat your family to an unforgettable Arabian adventure and make a splash at the world's most extravagant aquatic hotel!
- Free Half Board with a huge range of dining options
- Free access to Aquaventure and Lost Chambers
- Experience the culinary gourmet adventure with over 22 world-class restaurants, lounges and bars including the Michelin star restaurant Nobu
Ideal for trendy couples - stay at a chic and sleek hotel in the heart of vibrant Havana and then Stay next to Cuba's famous Varadero beach
- Virgin Atlantic Sale, huge reductions sale ends 08th Feb
- Exclusive Couples offer - Welcome Cocktail, 1 hour free Wifi Access in Havana plus a bottle of wine on arrival, 30-minute massage and a Romantic Dinner in Varadero
- Blau Varadero offers something for everyone with as little or as much as you want to do on offer including a spa
- Be swept away by the amazing views of Havana from Capri's rooftop pool
Use up to $2500 resort credit to indulge in spa treatments, golf sessions or a selection of excursions that will make your Cancun holiday truly unforgettable.
- Incredible January exclusive - Receive a free upgrade to the next room type when booking with The Holiday Place
- Don't miss out on this incredible offer Kids 17 and under stay, play and eat free
- The Illusionists are appearing at the resort from 22nd December - 3rd Jan & The amazing Backstreet Boys are appearing on the 29th December*
- Awesome resort credits with up to $2500 to spend on spa treatments, dolphin swims, access to the Wet 'N' Wild waterpark and much more
Combine exploring the old dimes of Havana with a refreshing beach retreat in Vardero on an unforgettable twin centre...
Start your holiday at The Melia Habana Hotel, located in the heart of the elegant Miramar district, overlooking the sea....
Take a holiday to the Caribbean resort of Cancun in Mexico. In the magnificent Moon Palace Cancun you will be perfectly...
Situated just minutes from the Bugibba promenade, Sunflower hotel enjoys an excellent location in the popular area of...
A warm welcome awaits you behind the striking geometric façade of Holiday Inn Express Dubai-Jumeirah, 20 minutes by taxi...
Experience luxurious accommodations, modern business and leisure amenities and an ideal location in the heart of Abu...