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Boeing CDR (CAD Hedged)
Symbol BA
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Close 2023-12-27 C$ 46.24
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Globe/wire say Boeing ready for Mexicana revival

2023-12-27 05:24 ET - In the News

The Globe and Mail reports in its Wednesday edition that Mexico relaunched former state airline Mexicana de Aviacion on Tuesday, setting out plans to increase operations with 10 additional aircraft next year. A Reuters dispatch to The Globe says that the airline run by the Defence Ministry currently has three planes and is renting two, but aims to add 10 next year with leasing deals, Defence Minister Luis Cresencio Sandoval said. The additional rented planes should arrive in the first few months of 2024, Mr. Sandoval added. The airline is also in talks with Boeing to place an order for new planes that could take about two years to be incorporated into the fleet, Mr. Sandoval said, without disclosing how many Mexicana is looking to acquire. The new liftoff is the latest step in President Andres Manuel Lopez Obrador's handover of traditionally civilian-led duties such as airports, railways, natural parks and hotels to the armed forces. Mexicana is set to operate flights from the military-run Felipe Angeles International Airport north of Mexico City, which Mr. Lopez Obrador opened last year. Mexicana entered bankruptcy proceedings in 2010. Mr. Lopez Obrador had vowed to revive it to offer low-cost options to travellers.

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