A Mexican judge has declared Mexicana de Aviacion bankrupt and ordered the sale of the company’s assets. The airline, founded in 1921, is a sad loss for the Americas, but has had its operations suspended since August 2010 and has been under a form of bankruptcy protection ever since after investors expressed interest in the company but a financial rescue never materialised. A district judge declared the company “in a state of bankruptcy” and ordered the sale of rights and assets to pay back lenders. The two subsidiaries, Click and Link, were also declared bankrupt. In total the group has $786 million in assets and debts totaling $864 million. The MRO arm is unaffected by this announcement and is now a totally separate entity.
Mexicana airline in bankruptcy as MRO continues
