Today was the day Mexicana Airlines planned to be back in the sky. Much smaller than the old Mexicana, the carrier would have started out with just seven planes flying internationally to Los Angeles, Chicago,
Miami and San Antonio from Mexico City as well as to Guadalajara, Monterrey and Cancun. What went wrong? Apparently PC Capital, the would-be new owners, failed to come up with the capital to pay Tenadora K, the old owners, for their stock. The old owners acquired financially troubled Mexicana and its subsidiaries for something like $1, by agreeing to take on all outstanding debts, which were many.
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Jimm Budd
Reporting from Mexico City
Member of the Society of American Travel Writers
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