Ta dreams to occupy you today
Ta dreams to occupy you today. ita contests of fancy lack the prac cality to be of much worth. AEWEPAPER GUTERPTIGE ADS.
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Newspaper
News
Location
Frederick, Maryland, United States of America
Date
Aug 19, 1982
Page
18
Mexicana de Aviacion faces oblivion amid debt and government take over
Mexicana de Aviacion, once Latin America's largest private carrier, teeters on collapse after 1962 losses exceed 11 million dollars. The government seized 58 percent of stock to end ruinous competition with Aeromexico, planning coordinated schedules while delaying merger talks until after a new president takes office.
MENTIONED IN THIS ARTICLE
Mexicana
Crecencio Ballesteros
Mexico City
Mexico
Gulf Coast
Latin America
Mexicana de Aviacion
Aeromexico
United States
Enrique Loaeza Tovar
Jose Lopez Portillo
Lopez Portillo
Miguel de la Madrid Hurtado
Charles Lindbergh
Brownsville
Texas
Tampico
Ford Tri-Motor
Mexicana and Aeromexico Rivalry Crushes Mexican Airline
Ingolf Otto of Mexico's Banking and Finance Institute says Mexicana could not drive out competition and government ended two inefficient carriers. Mexicana carried eight million passengers to 41 cities in the US, Mexico, and Central America last year and earned a $35.6 million profit, while Aeromexico carried fewer passengers with a similar fleet. The peso devaluation and fare rise in February worsened Mexicana's finances, signaling the broader industry struggle.
MENTIONED IN THIS ARTICLE
Mexicana
Aeromexico
Ingolf Otto
Mexico
Banking and Finance Institute
United States
Central America
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