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BUSINESS
February 18, 1993 | From Times Staff and Wire Reports
Plan Would Give Aeromexico Control of Mexicana: Aerovias de Mexico said it has reached agreement to obtain control of the majority shareholder in carrier Mexicana de Aviacion, effectively taking over its financially troubled rival. The chairman of Aerovias de Mexico, parent of Aeromexico, said he presented the plan to Mexico's Transport Ministry and is confident that it will be approved.
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BUSINESS
February 23, 1995 | From Times Wire Reports
In the wake of the peso crisis and amid increasing competition from upstart airline Taesa, Mexico's two largest airlines, Mexicana de Aviacion and its parent company, Aeromexico, are reportedly considering large fleet reductions. Both airlines have suffered severe foreign exchange losses from the devaluation of the peso, the magazine Commercial Aviation Report said. Aeromexico will park its surplus fleet of McDonnell Douglas DC-10s and may ground or return other jets, according to the magazine.
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BUSINESS
February 23, 1995 | From Times Wire Reports
In the wake of the peso crisis and amid increasing competition from upstart airline Taesa, Mexico's two largest airlines, Mexicana de Aviacion and its parent company, Aeromexico, are reportedly considering large fleet reductions. Both airlines have suffered severe foreign exchange losses from the devaluation of the peso, the magazine Commercial Aviation Report said. Aeromexico will park its surplus fleet of McDonnell Douglas DC-10s and may ground or return other jets, according to the magazine.
BUSINESS
February 18, 1993 | From Times Staff and Wire Reports
Plan Would Give Aeromexico Control of Mexicana: Aerovias de Mexico said it has reached agreement to obtain control of the majority shareholder in carrier Mexicana de Aviacion, effectively taking over its financially troubled rival. The chairman of Aerovias de Mexico, parent of Aeromexico, said he presented the plan to Mexico's Transport Ministry and is confident that it will be approved.
BUSINESS
February 9, 2005 | From Reuters
Mexican state-owned airline holding company Cintra said it had decided to sell the nation's two main carriers, Mexicana and Aeromexico, separately instead of jointly as originally planned. Cintra said in a statement that its board Monday approved making Mexicana de Aviacion its leading international operator and combining it with a new smaller regional airline.
BUSINESS
September 11, 2000 | Reuters
Cintra, the government-controlled company that holds a virtual monopoly on Mexican air traffic and battles U.S. carriers for the 10 million passengers flying each year between the United States and Mexico, could be living its final days. The government's anti-monopoly agency this week is expected to issue its recommendation on Cintra's future. The agency has long been in favor of splitting Cintra's two carriers--Aeromexico and Mexicana de Aviacion--into separate, competing entities.
BUSINESS
August 3, 2010 | Bloomberg
Grupo Mexicana de Aviacion, Mexico's biggest airline by passengers, is in talks with several international investors as it considers whether to file for bankruptcy, Chief Executive Officer Manuel Borja Chico said. Mexicana seeks a new labor agreement with its unions to cut costs, and there are no discussions about a merger with Consorcio Aeromexico SA, the carrier's largest Mexican rival, Borja said Monday in an interview broadcast on Radio Formula in Mexico City. "We've been discussing with several international investors who are willing to participate if we have a viable business plan," said Borja, who didn't identify them.
BUSINESS
September 6, 1994 | From Times Wire Services
Brazilian stock prices posted their largest single-day drop in seven months after this weekend's abrupt resignation of Rubens Ricupero as finance minister, traders said. Most international markets were quiet Monday due to the U.S. Labor Day holiday. Stock prices slid in Tokyo and Frankfurt, following the dollar lower. In Brazil, the Bovespa stock index in Sao Paulo tumbled 10.5%, closing at 48,040. In Rio de Janeiro, the IBV index fell 10.0% to 17,734.
BUSINESS
August 23, 1989 | MARJORIE MILLER, Times Staff Writer
In its continuing push to privatize state enterprises, the Mexican government Tuesday announced a three-year plan to sell Mexicana de Aviacion, the nation's largest airline, to a consortium of Mexican, U.S. and British investors. Chase Manhattan Bank, British financier Sir James Goldsmith and investment fund DBL Americas are minority partners in the consortium, which initially will purchase 25% of Mexicana under a new corporation. The foreign investors will own 9.8% of the airline.
BUSINESS
September 22, 2011 | By Meg James, Los Angeles Times
NBCUniversal's surprise pick to run its Spanish-language television operation Telemundo must pull off a particularly difficult task: clawing deep into a market dominated by entrenched powerhouse Univision Communications. "This is going to be a lot of work but a lot of fun," Emilio Romano said in an interview Wednesday, after the media veteran and former top airline executive was named president of Telemundo. Romano starts his new job in October. He replaces former President Don Browne, a longtime NBC executive who retired in June.
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