Mexican Air Lines Readied for Flight

(México, AN 21 February) AVIACSA, a commuter airline that went out of operation two years ago, has been resuscitated and is getting ready for passengers. Its first test flight (from Mexico City to Monterrey) was completed over the weekend. At the same time, share ownership in Mexicana de Aviación has passed into private hands. This scheduled airline, a competitor of Aero Mexico, suspended operations last year. The “buyer” is PC Capital, a group comprised of unidentified private citizens among Mexico’s well-heeled and well-connected elite, and the major creditors of the airline, which are foreign lessors of aircraft. Banco Bancomer, evidently a spokesman for the investors, indicates that by Holy Week both airlines could be moving passengers, as many as 100,000. In the case of Mexicana, US$200 million will be invested, some of it in “fresh” money for operating capital. The first item of business is to “liquidate” the 8,000 person payroll of the old entity and make a fresh start.