drron
Veteran Member
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- Jul 4, 2002
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At last the OW website can remove Mexicana's name-
A Mexican judge has declared Mexicana de Aviacion, one of Latin America's oldest airlines, bankrupt and ordered the sale of the debt-ridden company's assets.
The company, founded in 1921, had suspended its operations in August 2010 and was under a form of bankruptcy protection allowing the company to negotiate with creditors and make restructuring plans.
Investors expressed interest in the company but a financial rescue never materialised despite extensions given by the court to provide the company more time to find a solution.
Read more: Mexicana airline declared bankrupt
A Mexican judge has declared Mexicana de Aviacion, one of Latin America's oldest airlines, bankrupt and ordered the sale of the debt-ridden company's assets.
The company, founded in 1921, had suspended its operations in August 2010 and was under a form of bankruptcy protection allowing the company to negotiate with creditors and make restructuring plans.
Investors expressed interest in the company but a financial rescue never materialised despite extensions given by the court to provide the company more time to find a solution.
Read more: Mexicana airline declared bankrupt