Mexicana de Aviación’s Asset Liquidation
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Mexicana de Aviación’s Asset Liquidation

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Karin Dilge By Karin Dilge | Journalist and Industry Analyst - Fri, 07/28/2023 - 09:00

A court in Mexico City recently released the list of assets that Mexicana de Aviación plans to sell during its liquidation process. The list includes valuable industrial and intellectual property rights linked to the renowned Mexicana brand, as well as the Center for Technical Training, an immovable property located in Guadalajara, Jalisco and 14 commercial spaces situated at two prime locations in Mexico City.

Interested parties have a 10-day window to express their interest in purchasing these assets or voice any objections to the sale. This list was mutually agreed upon by the associations representing Mexicana de Aviación workers and the defunct airline itself on July 7, following discussions facilitated by the Ministry of Collective Affairs of the Federal Board of Conciliation and Arbitration. 

Proceeds from the sale of these assets will be instrumental in compensating the employees who were adversely affected by the closure of the airline over a decade ago, providing them some financial relief at long last.

Amid this breakthrough, the Mexican government has made a significant move in the aviation sector by officially announcing the establishment of a new state-owned airline named "Aerolínea del Estado Mexicano." This decree was published in the Official Gazette (DOF) on May 18, solidifying the government's commitment to creating a new national carrier.

The decision to establish this state-owned airline was authorized by President Andrés Manuel López Obrador, through the Ministry of Finance (SHCP), and it aims to provide both domestic and international flight services, as well as cargo transportation. The airline's main operational base will be at the recently inaugurated Aeropuerto Internacional Felipe Ángeles (AIFA).

The airline will operate as a state-majority-owned company, functioning as a variable capital stock corporation, in accordance with the General Law of Commercial Companies, the Federal Law of Parastate Entities and other applicable legal provisions. 

Initial capital investment by the federal government will be MX$1 million (US$59,708), of which MX$990,000(US$59,110) will come from SEDENA’s budget, while the remaining MX$10,000(US$597) will be provided by Banjercito as a minority shareholder.

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