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 09:00 - 17:00 GMT
Popular Holidays Browse all
Relax and unwind at this stunning resort without having to dig deep in your pocket.
- A fantastic all-inclusive programme with great the entertainment options including kids and teen club
- Luxury and comfortable accommodations with a spectacular views of the crystal blue Arabian Gulf
- Enjoy the secluded, glorious location on the beautiful, tranquil and pristine Marjan Island
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
Prepare to be wowed and dazzled by mystical encounters, ancient cities, marvellous wonders and unique sites as you discover the real and magical Jordan.
- Enjoy a stop-off at Mount Nebo where Prophet Moses viewed the Promised Land
- Visit the Dead Sea & enjoy a drive along the 2000-year-old Kings Highway
- Experience Petra, a UNESCO World Heritage Site, recently voted as one of the New 7 Wonders of the World
Combine colourful and vibrant Havana with a relaxing summer 2017 beach holiday in an award winning resort on the shores of Varadero
- Book early and benifit from huge early bird summer discounts!
- Discover Havana by day visit the historial sites and by night you can listen to live music or dance to the Salsa beat
- Enjoy complimentary pool-based dive courses on offer for beginners and experience one free daily dive at the Royalton Hicacos
- Three freshwater pools including four whirlpools and signature swim-up pool bar at Royalton Hicacos ensure an unforgettable holiday
One of the most sought-after locations in the magical city of Dubai is the artificial island of Jumeirah. Enjoy the...
Varadero is a showpiece of Cuba's natural beauty; stunning white beaches, turquoise waters and clusters of lofty palm...
Get the best of Havana and Varadero with this fabulous combination of city and beach in two of Cuba's finest hotels, the...
Situated just minutes from the Bugibba promenade, Sunflower hotel enjoys an excellent location in the popular area of...
The Gloria Hotel & Apartments is a stunning suite and apartment hotel that is ideally located in the heart of Dubai. It...
Fairmont Ajman is surrounded by stunning white sandy beaches and year round sunshine, just 30 minutes from the bustling...