Saturday, August 14, 2010

Mexicana too big to fail?

Should Mexicana crash and burn some 8,000 employees would lose their jobs and another 35,000 people would be affected, according to something I read somewhere. Travel agents, hotel associations and tour operators all are expressing concern. Should the airline stop flying to the United States, no other Mexican airlines could replace it until the FAA says so. What was the Mexicana Group has been absorbed into a new corporation, Nuevo Grupo Aeronautico, and nobody is quite sure who owns what. The bankruptcy court has sent in a team of optimistic accountants to study the books. The accountants are optimistic because the company, not the court, must pay them. Mexicana could not meet its payroll last week.
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Jimm Budd
Reporting from Mexico City
Member of the Society of American Travel Writers

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