2010 Mexicana filed for Concurso Mercantil (Mexican law equivalent to US Chapter 11) and US Chapter 15 on August 3, 2010, in both the U.S. and Mexico, following labor union disputes; a debt of US$125 million was reported. On August 5, 2010, Mexicana filed a motion to the Superior Court of Quebec (Commercial Division) of the District of Montreal to obtain the recognition of foreign proceedings regarding Section 46 and following of the Companies’ Creditors Arrangement Act (“CCAA”). Subsequently, the airline scaled back its operations, suspending ticket sales and announcing the termination of selected routes.Grupo Mexicana Informa – Home. Cmainforma.com. In early August 2010, the airline offered pilots and flight attendants a stake in the business in exchange for new labor terms. On August 24, a Mexican consortium called Tenedora K announced that it had bought 95% of Nuevo Grupo Aeronáutico; pilots would hold the other 5%.
2010 Mexicana filed for Concurso Mercantil (Mexican law equivalent to US Chapter 11) and US Chapter 15 on August 3 2010 in both the US and Mexico following labor union disputes; a debt of US$125 million was reported On August 5 2010 Mexicana filed a motion to the Superior Court of Quebec (Commercial Division) of the District of Montreal to obtain the recognition of foreign proceedings regarding Section 46 and following of the Companies’ Creditors Arrangement Act (“CCAA”) Subsequently the airline scaled back its operations suspending ticket sales and announcing the termination of selected routesGrupo Mexicana Informa – Home Cmainformacom In early August 2010 the airline offered pilots and flight attendants a stake in the business in exchange for new labor terms On August 24 a Mexican consortium called Tenedora K announced that it had bought 95% of Nuevo Grupo Aeronáutico; pilots would hold the other 5%