Mexicana declared bankrupt

Mexicana declared bankrupt

Corporate & Sovereign Strategy

A judge has declared Mexico's former flagship airline Mexicana bankrupt and ordered the sale of its assets, the Mexican government said on Friday. Mexicana has not been operational since it filed for bankruptcy in August 2010, despite efforts by a Mexican private equity firm and investment banks to rescue the debt-ridden airline. At least 30 investors had shown an interest in acquiring Mexicana and its two subsidiaries (Click and Link) but none of them had enough assets to go ahead with the oper

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