Mexico's new government has decided to proceed this year with the sale of its 62% stake in Aeromexico.
Airline and government officials met in February to start planning the sale process. They are aiming for the second quarter, and are studying whether to hold a public offering instead of the private placement used to sell Mexicana in late 2005. Aeromexico and its regional subsidiary, Aerolitoral, have been valued at $250 million, well above the $160 million which Mexicana's sale fetched.
Bids to sell Aeromexico in 2005 were rejected as too low and plans for a sale last year were postponed. Local sources claim several Mexican and foreign parties are interested, including Continental Airlines and Spain's Globalia.
Source: Airline Business
