Pssst, wanna buy an airline???
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Pssst, wanna buy an airline???
Mexico's State Airline Seeks Bidders
The Associated Press
MEXICO CITY - The government's airline holding company, Cintra, started seeking bidders for the country's two biggest airlines on Wednesday.
Through advertisements in local newspapers, Cintra chairman Andres Conesa said that potential buyers have until July 26 to express interest in purchasing up to 100 percent of AeroMexico or Mexicana.
The flagship carriers will be sold separately, although investors are allowed to submit bids for both.
Only bidders approved to participate will receive the sale terms. Cintra said it will let investors know by Aug. 9 whether they have qualified to take part in the privatization.
The airlines, which together control close to 80 percent of domestic air travel, merged in the early 1990s.
The government acquired control of the carriers along with other assets seized in the bank bailout of the mid-1990s and created Cintra to manage them.
Foreigners are limited to minority stakes and must ally themselves with Mexican investors to participate.
Cintra hopes to sell at least 51 percent of each carrier by early 2006. AeroMexico will be sold together with regional carrier Aerolitoral, while Mexicana will be packaged with new low-cost carrier Click.
Credit Suisse First Boston is managing the sale.
Mexican airlines transport roughly 18 million passengers a year on domestic routes.
July 6, 2005 4:21 PM
The Associated Press
MEXICO CITY - The government's airline holding company, Cintra, started seeking bidders for the country's two biggest airlines on Wednesday.
Through advertisements in local newspapers, Cintra chairman Andres Conesa said that potential buyers have until July 26 to express interest in purchasing up to 100 percent of AeroMexico or Mexicana.
The flagship carriers will be sold separately, although investors are allowed to submit bids for both.
Only bidders approved to participate will receive the sale terms. Cintra said it will let investors know by Aug. 9 whether they have qualified to take part in the privatization.
The airlines, which together control close to 80 percent of domestic air travel, merged in the early 1990s.
The government acquired control of the carriers along with other assets seized in the bank bailout of the mid-1990s and created Cintra to manage them.
Foreigners are limited to minority stakes and must ally themselves with Mexican investors to participate.
Cintra hopes to sell at least 51 percent of each carrier by early 2006. AeroMexico will be sold together with regional carrier Aerolitoral, while Mexicana will be packaged with new low-cost carrier Click.
Credit Suisse First Boston is managing the sale.
Mexican airlines transport roughly 18 million passengers a year on domestic routes.
July 6, 2005 4:21 PM
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Buy an airline? not me!
Havn't you heard; " If it flies, floats or f##ks, its cheaper to rent it!"
But seriously;
I understand that just very recently the Mex. Gov, approved 4 new domestic carriers and at least one of them has deeeep pockets, I understand that "they" plunked down cash money for about 15 airbuses.
There goes your 80% share of the domestic pie.
Havn't you heard; " If it flies, floats or f##ks, its cheaper to rent it!"
But seriously;
I understand that just very recently the Mex. Gov, approved 4 new domestic carriers and at least one of them has deeeep pockets, I understand that "they" plunked down cash money for about 15 airbuses.
There goes your 80% share of the domestic pie.
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Have heard that phrase flufdriver 
Regarding your upstarts and plunking down the cash to buy 15 Airbuses-- you've probably also heard the expresion that the way to make a small fortune in the airline industry is to start with a large fortune.
Will indeed be interesting to see what the future of AeroMexico and Mexicana holds. Privatizations of former state-owned carriers tend to be painful affairs-- and I wish the AeroMexico and Mexicana colleagues the best.
Regarding your upstarts and plunking down the cash to buy 15 Airbuses-- you've probably also heard the expresion that the way to make a small fortune in the airline industry is to start with a large fortune.
Will indeed be interesting to see what the future of AeroMexico and Mexicana holds. Privatizations of former state-owned carriers tend to be painful affairs-- and I wish the AeroMexico and Mexicana colleagues the best.
