Nearly two years after running out of cash, filing for bankruptcy and grounding all flights, Mexicana de Aviación may resume operations as soon as April, according to published reports.
A Mexican bankruptcy judge ruled on Friday that Med Atlantic, a company led by Spanish entrepreneur Christian Cadenas, had met the financial requirements for taking over Mexicana with a $300 million investment. Deals have been reached with the airline’s creditors, and Mexico’s Transport Ministry is expected to issue a certificate of operation in the coming days, according to a CNN Expansion report.
Slots that had been ceded to other Mexican carriers in Mexicana’s absence will be returned to the airline. It was not immediately clear which routes the airline would fly.
Flights could begin in April using seven leased aircraft. A similar plan to relaunch the airline last year involved seven Airbus A320 jets.
