Mexicana Airlines Relaunch Attempt Fails Due to Lack of Funding

Mexicana Airlines Relaunch Attempt Fails Due to Lack of Funding

The latest effort to relaunch Mexicana Airlines has failed because the small investment company trying to buy the company had not come up with enough money to restart operations. PC Capital was trying to relaunch the airline, but it was unable to raise the $200 million it said it needed to do so.

Mexico’s labor and communications ministries, which had supported PC Capital’s efforts, said in a statement that they were suspending talks with the firm. The two ministries said that they “deplore the fact that, after all the obstacles that had to be overcome to restructure Mexicana, PC Capital has failed to fulfill its part of the bargain by identifying solvent investors so as to conclude the process.”

Mexicana and its affiliated carriers, Link and Click, stopped flying in August, stranding travelers and hurting capacity of fights into Mexico.