Mexicana in financial crisis

National
Requests their clients that buy tickets in other companies
Mexicana in financial crisis
By: Carlos Damián August 19, 2010
AMAV: Due to flights suspension, CMA has affectations by 3.5 million of dollars
México .- The Mexican aviation Company (CMA) announced that its financial situation has been deteriorated of serious way in the last days, and even requested its clients that have trip tickets "analyze" other transportation options. The principal air company of the country, which requested legal protection to evade creditor requirements and it is beginning to conversations with the pilots and stewardess unions, asserted: "various events during the last week have deteriorated considerably the income flow that sustain the operation".

CMA argued that the International Association of Transportation Air (IATA) decided to discontinue this week the sale of tickets of Mexican Click and Mexican Link through the trip agencies. The company will maintain communication in its webpage: www.cmainforma.com. However the flights of its underlying ship calls Click and Link them would not suffer arrears. According to the Mexican Agencies Association of Trips (AMAV), the flights suspension "involves at least 3.5 million of dollars".

The degradation of Mexico to category two in the international standards of aeronautical safety, decreed by the Federal Aviation Administration (FAA) implies among other things, that no national airline can open new routes or flight frequencies in The States airspace. Due to "adjustment" of international routes begun by CMA, that had 65 % of the international segment, the American and Canadian airlines, began to increase their flights to the Mexico City in almost 90 percent, according to the last reports airports.

Financial institutions retain to it funds by the mercantile contest request
In this technical bankruptcy that it has decreed CMA in October of 2007 the president of the council, Gaston Azcarraga Andrade, was offering 200 million of cash dollars and tinny sound to be remained also with its competitor, the airline Aeromexico property of the federation. Fortunately they were not sold it; of other manner the disaster would be total. Requested federal government loans of 66.67 million of dollars by means of National Financial and without difficulty were untied them. What conditions Financial National (NF) has to lend that money? That small quantity of money if we are in financial crisis? Which are the conditions and with which guarantees the state given that money? How do director can explain it, Hector Rangel Domene?


All these questions are heaped in our draw financial - economic, since now say that it does not reasonable a financial rescue of CMA: then already it was rescued down of table. On what spent them money? Perhaps in their/its particular companies, or in international company actions. As much Rangel Domene as Gaston Azcarraga have a long militancy in the organizations entrepreneurial of high level. It is auto-designated representative of the private initiative, but in reality do not know them neither in their house. The dog them gives all money without delays in exchange for their silence before so serious problems as the violence situation that we lived.

According to the deputies of the PRI and of the PRD, indicated that the fantasy of the finances deterioration is "a fraud schemed"by the supposed owners of the company, to be empowered of the property airline of the Mexican state. Of agreement to the deputy of the PRI, Heliodoro Díaz, they should be the workers who assume their responsibility and seek financial alliances to remove forward to the company. The absence accomplice of the Communications and Transportation Secretariat (SCT) in the operations alertness of CMA is manifests.

Clavel Sanchez, general secretary of the Union Stewardess Association (ASS), asserted that the workers are making what is necessary to save to the company, and she referred that during the meeting requested to the legislators hers support in two points: not to permit the bankruptcy, and to approve a legal reform that give greater certainty to the civil aviation. Added in hers explanation that if CMA it does not sell tickets in its tables is not because must cover a fine to the International association of Air Transportation, as argues the company, but it is considered a unilateral decision of the directors and the "owners of the company". Underlined mine. (La Jornada, economia, p. 22, August 9, 2010).