Mexicana says adios, perhaps

Mexicana is shutting down all operations by midday Saturday. Here's its statement, out Friday afternoon:

Mexicana Airlines (Grupo Mexicana) suspends its operations indefinitely

The current administration received the company seven days ago under Business Reorganization (Concurso Mercantil) and technically bankrupt.

Financial deterioration and lack of agreements force Grupo Mexicana to stop flying.

Grupo Mexicana deeply regrets all inconveniences caused to its passengers.

An investment consortium, Tenedora K, bought a 95 percent stake in the airline a week ago. Mexicana's pilot union had agreed to concessions in exchange for 5 percent of the airline, but the investors couldn't work out a compromise with flight attendants.

Mexicana had operated two daily roundtrips between Dallas/Fort Worth and Mexico City, while its Oneworld partner American Airlines operates four a day. The AA flights are about to get more crowded.

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