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Wanted: airline buyers
Sunday, 07 Jul, 2005
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Cintra, the Mexican government’s airline holding company, is looking for bidders for the country’s two biggest airlines.
Cintra placed advertisements in newspapers for bids due before 26 July.
Bidders are being offered up to 100% of AeroMexico or Mexicana Airlines.
Investors can submit bids for both, though the two airlines are being sold separately.
The Mexican government acquired control of the two carriers in a bank bailout of the mid-1990s. Cintra was created to manage the airlines on an interim basis.
Foreigners can also bid on the airlines, but they are limited to minority stakes. They must also form alliances with Mexican investors to participate.
Report by David Wilkening
David
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