News Listings for Aeromexpress

  • Mexican airlines head for private ownership

    News | 11 Jul 2005 23:00

    <P>Mexico’s two major airlines are moving towards independence under a state sell-off, but as Aeromexico and Mexicana emerge in private hands next year, they will be enmeshed in growing low-cost competition. </P> <P>The carriers’ parent, Cintra, the federal government’s airline holding company, has invited bids and will tell potential buyers by 9 August whether they have qualified to acquire parts or all of the airlines. </P> <P>Aeromexico and the larger Mexicana will be sold separately and only to groups that limit foreign ownership to 25% under Mexican law. Investors are allowed to submit bids for both. </P> <P>Cintra plans to sell at least 51% of each carrier by early next year, offering Aeromexico together with regional carrier Aerolitoral while linking Mexicana with low-cost carrier Click Mexicana, which began flights last week. </P> <P>Serving 16 leisure destinations including Cancun, Veracruz and Havana, Cuba, Click uses ex-American Airlines Fokker 100s. Parent Mexicana reli
  • Mexico’s Cintra opens bidding

    News | 30 Jun 2005 23:00

    <P>Cintra is moving ahead with plans for the separate but simultaneous sales of both Aeromexico and Mexicana, concentrating on private placements.</P> <P>The government agencies that own two-thirds of Cintra began an offer for separate stakes in the Aeromexico group, consisting of Aeromexico and Aerolitoral, and the Mexicana group, comprising Mexicana and its new low-cost subsidiary. Mexico’s government is willing to sell between 51% and 100% of its holdings in each airline group to separate buyers.</P> <P>Cintra is encouraging local investors to form consortia, which may include airline employees, to bid for these stakes. It is not inviting offers from foreign investors but they may join locally-controlled investor groups so long as they keep within Mexico’s 25% foreign ownership cap.</P> <P>The holding company aims to complete these placements by year-end. If the government’s entire stake in both airline groups is not sold by then, Cintra will continue to hold the rest. How long i
  • Conesa: Cintra's end game

    News | 31 Mar 2005 23:00

    <STRONG> <P><STRONG>By David Knibb in Mexico City</STRONG></P></STRONG> <P><STRONG>Just 10 years after it was formed, Mexico's Cintra plans to sell off its airlines and go out of business, with Andres Conesa at the controls of its final few months of flight</STRONG></P> <P>Andres Conesa is trying to work himself out of a job. If he succeeds, by the end of this year Cintra, the Mexican state holding company that has owned Aeromexico, Mexicana and their subsidiaries for the past decade, will cease to exist and his position as president of its governing council will disappear.</P> <P>Conesa's goal is to split Cintra, Latin America's largest airline group, into three parts – Aeromexico, Mexicana, and a ground handling company named SEAT, so that Mexico's federal government can sell its two-thirds stake in all three. Once this reprivatisation is complete, Cintra will close its offices and Conesa will be looking for work.</P> <P>"My priority," he says, "is to do my job right. After that I wi
  • Meaney joins Swiss

    News | 01 Jan 2003 00:00

    <p>Former Star Alliance head William Meaney is joining Swiss as chief commercial officer as it builds a new management team. Meaney resigned from Star in May 2001 and was replaced by Aeromexpress head Jaan Albrecht.</p>
  • Star appointment

    News | 08 May 2001 23:00

    <p>Star Alliance's chief executive William Meaney has resign-ed after only three months in the job. Jaan Albrecht, CEO of Aeromexpress, Mexicana's cargo division, will replace him. Meaney's appointment in February was controversial, as he was a senior executive with South African Airlines, which is not a member of the alliance.</p>
  • Latin American focus - Mexican stand-off

    News | 16 Apr 2001 23:00

    <p>Events in Latin America's strongest economy could influence fleet campaigns elsewhere in the region</p> <p>Guy Norris/ACAPULCO</p> <p>Mexico and ma&ntilde;ana - the two words have become inextricably linked for the ever-patient Airbus and Boeing sales teams, which have spent several years camped out in Mexico City waiting for long-overdue aircraft orders to be placed. </p> <p>Yet there is more to the Mexican airline story than the standard "mega-manufacturers-in- pitched-battle-for-regional-fleet" plot. Winning in Mexico is not only important because air transport there is growing at 6% per year - the fastest in Latin America - but because it also represents vital strategic leverage for the manufacturers' broader campaigns for regional dominance in Central and South America. </p> <p>Boeing and Airbus know that nothing can happen until the complex web surrounding the Cintra holding company, established in 1994 to protect local airlines from bankruptcy following the peso's devalua