An investment consortium named Tenedora K has bought 95 percent of the shares of Nuevo Grupo Aeronautico SA, the holding company for Mexicana Airlines, which was under Chapter 15 bankruptcy protection.
Tenedora is a group formed by private investors in association with Mexico’s largest pilots’ union specifically created for the takeover.
Chief Executive Officer Manual Borja Chico resigned as a result of the sale, and Tenedora expects to name a successor on Aug. 25.
Mexicana is Mexico’s largest carrier by passenger volume last year.