Mexican airline files for banruptcy

04.08.10

Mexicana, Mexico’s biggest airline, has filed for bankruptcy protection in Mexico and the US, to protect its assets from creditors. The oneworld airline filed for bankruptcy protection after failing to reach agreement with unions about cutting costs. Its four times weekly service between Mexico City and Gatwick is currently unaffected by the move.

The former state owned airline has lost $350m since 2007 and has debts of more than $1bn. It said in a statement that it will ‘continue to operate normally’ while it restructures, although it has suspended a number of US routes and 3 of its planes have been seized by creditors.

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