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Mexicana Airlines hopes to resume operations in December

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Mexico's largest airline by passenger numbers stopped all it's flights in August. Mexicana Airlines has recently presented a restructuring plan and hopes to resume it's operations in December.

Bankruptcy protection for Mexicana

Just recently, the airline's request for legal shield has been approved. The company is now under protection from US creditors according to Chapter 15 of the American bankruptcy code. This should help the company to reorganize and get back to business.

The revival plan

The company is in need of financial capital. A Mexican firm Capital PC has announced it is ready to invest more than $150 million. This should allow the airline's ope­rations to be restarted. The restructuring plan must now be agreed by the company's labor unions and creditors. If so, the airline plans to resume flights with about a halve of it's planes. It would be about 30 Airbus A320 family aircraft.

Sources: Businessweek and ATW


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