Mexico’s two legacy carriers respond to H1N1-related financial needs
Written by thomas · Filed Under CommercialJune 30, 2009
Mexicana has asked the government for 1.5billion (US $113 million) to carry it through the cash squeeze that resulted from the recent swine flu outbreak. Mexicana’s CEO, Manuel Borja, said that the carrier requested the funds because it is having short-term liquidity problems. Aeromexico has secured 500 million pesos from its investors after a 50% drop in May load factor that was attributed to the outbreak. Plans are reportedly to use some of the cash to cover debt obligations.
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