Manufacturing Industry
Cintra sells Mexicana to Grupo Posadas and cancels Aeromexico sale
Airline Industry Information, Nov 30, 2005
AIRLINE INDUSTRY INFORMATION-(C)1997-2005 M2 COMMUNICATIONS LTD
Mexican holding company Cintra SA has said that it has sold the Mexicana airline to a Mexican hotel chain.
Cintra also said that it has decided to cancel the sale of Aeromexico.
Grupo Posadas SA, the owner of Fiesta Americana hotels, reportedly made a bid of USD165.5m for 100% of Mexicana. According to Bloomberg, the total sale price of USD1.456bn includes USD294m in debts as well as USD997m in aircraft lease contracts.
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