Posted on 08/27/2010 7:39:40 PM PDT by tcrlaf
Debt-ridden airline Mexicana de Aviacion is halting all operations, Mexico's transportation secretary said Friday.
Juan Francisco Molinar Horcasitas told reporters in Mexico City the struggling carrier will cease all flights and other activity as of midnight Friday night.
Mexico's largest airline filed for bankruptcy protection in Mexico and the United States on Aug. 2 while it sought to reorganize itself.
Three days later it announced that it had stopped selling tickets and then suspended some flights.
In court filings, the company said it had been badly hit by the swine flu outbreak in 2009 that scared away travellers for months and by the global economic slowdown.
The airline also blamed its financial troubles on high jet fuel prices and high labour costs.
Mexicana flew to more than 65 national and international destinations, including the United States, Canada, Central America, South America and Europe. It transported 11.1 million passengers in 2009.
(Excerpt) Read more at cbc.ca ...
It's cheaper to walk.
Not any more.
Apparently not too big to fail.
Now, they can call it quits, or, reorganize and re deal their pension plans and union contracts.
Kind of sad to me because I remember as a kid in the early seventies their 727’s flying low over our house on final for touch and goes (they were training pilots out in the desert). I thought it was neat but my mom and dad didn’t appreciate the noise and windows shaking.
Years ago there was “Aeronaves de Mexico”. They went bankrupt because the employees were giving free rides to friends and relatives. It reemerged as AeroMexico. I’m guessing the same crap is happening here. They’re just hemorrhaging money left and right.
If the airline doesn’t know whether their plane will be shot down or allowed to take off without being shot down or their passengers killed in the terminal, it’s hard to attract investors and passengers. Mexico is about to be a dead country for a time. Then it will be taken over by Venezuela or someone who will restore order thru force. Then the people are REALLY screwed.
Well I guess I need to find another airline for my bass trip to El Salto
The livestock in the overheads was hard to take.
“The livestock in the overheads was hard to take.”
First class, huh? We didn’t have seats.
Shoot, they have been in business since 1921...
http://www.airliners.net/photo/Mexicana/Boeing-727-225/1631017/L/
http://www.airliners.net/photo/Mexicana/Boeing-767-25D-ER/1761385/L/
Mexicana was a very fine airline. Service to N. America, Europe and S. America. One of the launch customers of the Comet, they also flew DC10’s and 767’. Its a sad day, they were the class airline of Mexico. Aeromexico does some international, but they never had the reach of MX.
That is quite overstated, I've traveled all over Mexico for 30+ years without any problems. And I've never known anyone to have any problems. I could drive the length and width of Mexico without any problem. Of course its good to know the language, customs and norms, but that applies to any country. I feel safe in Mexico, moreso than being in Los Angeles.
“I feel safe in Mexico, moreso than being in Los Angeles. “
Talk about an overstatement.
Well, there are tourist and there are travelers. I’ve been in over 50 nations, all over the globe, including some really dicey places. As for Mexico, I learned early about how to get by there, the hysterical press is so overblown. I feel completely at ease in Mexico, you just have to know how to do it. Its a wonderful country with great people, though I do get into some good debates about the Mexican national soccer team.
Analysts are calling for a 50% drop in the value of the peso int he next year...
Many major industries in Mexico are on the verge of bankruptcy if this currency correction takes hold.
I’m certain there were some that thought the press South VietNam was getting at it’s fall was overblown. Mexico is nearly a lost cause.
Mexico is about to blow up into a full blown Civil War. Millions are going to die and more millions come to the USA. There will be tent cities on the borders full of refugees. If it takes the Communists to slay all the drug cartels—so be it.
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