Felipe Consuelo Soto, the judge presiding over the Mexicana airlines bankruptcy proceedings said, a new set of investors has deposited $300 million to recapitalize Mexicana Airlines, which could return to the skies next month. Spanish hotel group Med Atlántica, which claims to be 80 percent controlled by Mexican investors, has shown it has the necessary funds and is now the best option for rescuing the beleaguered carrier, the judge said. If not, the airline may be declared insolvent before the end of this month and its holdings sold to pay off creditors.
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Jimm Budd
Reporting From Mexico City
Member of the Society of American Travel Writers
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