Mexico Flagship Airline Mexicana Declared Bankrupt - Presented by: The Aol. On Network

Mexicana Airlines, which suspended flights four years ago due to its heavy debt load, was declared bankrupt on Friday, paving the way to dismantle the iconic company, once one of Mexico's top two carriers. About 30 investors sought for more than three years to rescue the airline, which has an estimated debt of $1 billion, but none proved to have the necessary funds. Mexicana's MRO maintenance base, valued at between $80 million and $100 million, will continue operating.



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