Mexicana airlines will undertake a major restructuring,...
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Mexicana airlines will undertake a major restructuring, and it has postponed a plan for sale of the Mexican government’s 51% ownership, the board of directors said. The decision follows the
recent bankruptcy filing of the state-owned Aeromexico, the country’s other major airline, four days after it was grounded by a strike. Mexicana Vice President Aaron Saenz Couret told a
stockholders’ meeting that unprofitable routes will be canceled and three of its 45 planes will be sold as part of a cost-cutting plan. MORE TO READ