Change of heart at Interjet

Management at Interjet — now the second largest airline in Mexico — has decided against an initial public offering of about 30 percent of its stock. The privately-held carrier had hoped to raise about $27 million on Mexican and U.S. stock markets. Official reason for pulling back is that markets these days are too volatile. Unofficial reason is that investors would be unwilling to pay the price that Interjet would be asking. Investors in Aeroméxico — which went public earlier this year — have found that they paid more than what their stock is now worth.

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Jimm Budd

Reporting from Mexico City

Member of the Society of American Travel Writers