Mexico's government has delayed plans to sell its 62% stake in Aeromexico from June to September. Andres Conesa, president of the Aeromexico group, which includes regional carrier Aerolitoral, says the new sale date is now "concrete".
The delay, partly because of a needed appraisal of the group, was also prompted by concerns that Aeromexico's first-quarter loss might suppress the share price. The 464 million peso ($43 million) loss was 65% worse than the same period last year as competition bit from low-cost domestic carriers.
The privatisation will be via a public sale of the government's shares on the Mexican stock exchange. This contrasts with the $165 million private placement of Mexicana two years ago. The government then rejected a private offer for Aeromexico as too low.
To counter its erosion of domestic yield, Aeromexico is shifting capacity to international routes. It plans to launch flights to 10 new US cities in July.
Source: Airline Business
