In an initial public offering, Aeroméxico placed 17 percent of its stock on the market last week, raising about 3.9 billion pesos ($332 million). Shares, offered at 31 pesos each, were purchased by some 3,000 investors, although the price had dropped a few centavos by the end of trading on Friday. Aeroméxico sold the stock to finance the planned acquisition of 10 Boeing 737s and another ten Embrear aircraft as it moves to expands it routes. Meanwhile, American Airlines is interested financially in helping presently grounded Mexicana Airlines get back in the air.
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Jimm Budd
Reporting from Mexico City
Member of the Society of American Travel Writers
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