American Airlines Comes to Mexicana’s Rescue

(Mexico City, AN 15 April) Last night American Airlines announced that it will take part in the TG Group project to acquire the shares of Mexicana de Aviación, the airline that has been bankrupt and grounded since August of last year. Perla Capital Group, an investment bank, brokered the deal. American enters with access to operating capital and know-how, and will bring both to bear on the condition that its conditions are met concerning development and management of the company. The exact amount of participation and the value to be transferred are still being studied. The deal is subject to regulatory approvals in both countries. No date has been set for when Mexicana may reassume its operating schedule.