* Grupo Mexicana suspends flights until further notice
* Current management received the company in a state of technical bankruptcy seven days ago after it filed for protection under Mexico’s insolvency laws
* Financial deterioration and lack of agreements force Grupo Mexicana to stop flying
* Grupo Mexicana deeply regrets any inconvenience caused to passengers
Nuevo Grupo Aeronáutico, S.A. de C.V. ('Grupo Mexicana') announced this morning that as a result of the group’s delicate financial situation when it changed owners a week ago, compounded by failure to reach agreements that would allow for the capitalization of its three airlines, Mexicana Airlines, MexicanaClick and MexicanaLink flights will suspend operations until further notice as of midday (12:00 p.m.) on Saturday, August 28, 2010.
Among the factors that have contributed to this announcement are:
* Grupo Mexicana’s fragile financial situation, which has deteriorated further over the last four weeks due to the previous management’s decision to suspend ticket sales, forcing the company to continue operating in the interests of passengers without receiving any revenue.
* No substantial agreements were reached to give companies in the Group long-term viability.
* Lack of effectiveness in the insolvency (Concurso Mercantil) process intended to protect additional financial resources available to the company so it could to continue operating.
* Given the uncertainty of the situation, certain suppliers have begun demanding advanced payment of services that are essential to the airlines’ operations.
Today’s decision is a painful one for the 8,000-strong Grupo Mexicana family, but we will continue seeking out ways of securing the company’s long-term financial viability, so our passengers can once again enjoy the quality services they are accustomed to. We hope to be back in the air soon and would like to thank everyone involved in this process for their support and understanding.
If you have bookings and/or have paid for a Grupo Mexicana flight and have a reservation code, we would like to inform you that:
* All Mexicana, MexicanaLink and MexicanaClick flights will be suspended until further notice as of midday on Saturday, August 28, 2010. All flights scheduled to depart after this hour will be cancelled.
* Grupo Mexicana deeply regrets any inconvenience this decision may cause and will continue to assist passengers to the full extent of its abilities. Passengers who have already flown a leg of their journey and who are scheduled to fly with a Grupo Mexicana airline after Saturday, August 28, 2010 are advised to consult the websites or contact us at the numbers listed below. Priority will be given to minors traveling unaccompanied, passengers traveling with children under age 3 and special needs passengers.
* If you have not yet begun your journey, we recommend you make alternative travel arrangements.
* For information on how to apply for a refund, visit mexicanainforms.com (tickets issued in the United States and Canada)
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