The maintenance base

National NGA demands to be owner of 50% of actions of MRO The maintenance base (MRO) By: Carlos Damian November 17, 2013 Gaston Azcarraga's Group seeks to control Mexican of Aviation Mexico. - The New Aeronautical Group (NGA) that Gaston Azcarraga heads (GA), and that he only has 8 percent of the credits of Mexicana de Aviacion (Mexicana), it maneuvers to be made of the control of the Base of Maintenance (MRO) of the airline and to toss the proposal of the majority creditors below of creating a fideicommissum to guarantee the payment of the rights and in its case liquidations of the 8 thousand 500 workers of the company. Tenedora K'S manager, Jorge Gastelum that is bound to manager GA, presented before the judge of the mercantile competition of Mexicana, an agreement proposal so that 50 percent of the actions of MRO that continues being the most lucrative asset of to company, pass at the hands of the NGA and to the signature Airports and Lands, and that it even cancels the total of the debits of this. The agreement proposal presented in the last meeting of worthy with the judge, Edith Alarcon, it outlines that Tenedora K that only possesses 8 percent of the total of credits, keep the total operation of Mexican MRO, company that is even profitable and it has a value of between 80 and 120 million dollars. In contrast to the posture of the four majority creditors of Mexicana that they have 92 percent of the credits that intend to create a fideicommissum to guarantee the rights of the workers of the company, Tenedora K rejected this proposal. On the other hand, it presented an outline so that the creditors and the NGA are distributed this maintenance Base. In the meeting of the past 29 of October that the majority creditors sustained with the judge, Gastelum presented the plan so that the creditors become shareholders of the MRO and capitalize 100 percent of the debits besides that they return the guarantees and to change they obtain 50 percent of the actions of this maintenance base. It exposed that the NGA and Airports and lands that are the current shareholders of the MRO, would obtain the other 50 percent. In the plan of Gastelum the creditors will be committed to not to attempt or to retire any demand, it denounces or it complains against anyone of those who integrate the companies and that the MRO “will even negotiate that the SAT grants you remove to the passive one fiscal". Gastelum also pointed out in the meeting that “to benefit the former workers was the creditors' decision, not of the current shareholders” of the maintenance Base. Workers present alternative Representatives of the unions of Mexican presented (11/14/13) a proposal so that the federal government awards them the goods of the airline, routes, slots and controls to the unions affected for more than three years for the closing of the company. They pointed out that to change the unions commit to return to the air to this company. In press conference they denounced that to take from of the mercantile competition to the Base of maintenance of Mexican (MRO) it is to prepare to the way so that the airline is declared in crash and to give the workers a tenth part of the liquidations, ruining the possibility forever that it is rescued to the company. Worthy of Mexican MRO Services they reached an agreement to capitalize to this branch of Mexican dedicated to the maintenance of airplanes, by means of the integration of a fideicommissum that will have as purpose to sell the assets of this branch in the workers' of the airline benefit. The agreement was endorsed this Thursday (11/14/13), for the federal judge Edith Alarcon, rector of the mercantile competition of Mexicana who immediately ordered the conciliatory Gerardo Badin to elaborate the agreement contestant to take out to this company of the mercantile competition in which is immersing from 2010. "Require you by means of personal notification to the conciliatory one designated, so that to the possible brevity it begins the pertinent administrations and give legal form to the agreement respective mercantile competition", it indicated the magistrate in a judicial agreement. In the afternoon in an informative note diffused by the Council of the Federal Judicature was explained that this agreement doesn't mean that it has concluded the mercantile competition, because it still continues effective the extension of 90 days so that the conciliatory one can tune details of the agreement indispensable mercantile competition to avoid the crash of the company. The agreement consisted in that the main creditors: Banorte, Bancomext, the International Airport of Mexico City (AICM) and Grupo Aeroportuario del Pacifico (GAP) they gave up to get paid it owe cash in exchange for keeping 92 percent of the stock titles. In an official statement emitted in the afternoon, the creditors celebrated the call of the magistrate and they reiterated it their support. "This decision is a firm walk in the route to take out the MRO of the process in that is, to maintain its operation, to conserve the employments that it generates, and according to that outlined, to dedicate all the assets to a fideicommissum in favor of workers and pensioners of the companies in competition (Mexicana, Click, Link, and the own MRO)", it indicated the judge's writing. MRO accepted to execute without restriction the capitalization proposal presented in the audience of November 6 by the noted inspector and ratified by the majority creditors (AICM, Banorte, Bancomext). The judge explained that in hers proposal it was endorsed: a) the consolidation of the credits of those that are regular in a creditor, in the terms that have thought about previously before this tribunal; b) the consolidated creditor would be a fideicommissum, and the trustee would be Banjercito; c) the fideicommissum would have as end to administer and in its moment to sell active of the same one in the workers' benefit in terms before outlined; d) Nuevo Grupo Aeronautico and Aeropuertos y Terrenos, both S. A. of C. V. (NGA and AT) they won't participate in the mentioned fideicommissum; and e) the project would have a double end, to give viability and survival to MRO and to use the assets in the workers' benefit of the four competed companies (Mexicana de Aviacion Company, Mexicana Inter, Aerovias Caribe, and MRO)". by virtue of the above-mentioned, the tribunal orders to continue with the second and last extension to the conciliatory period that will exceed of the maximum foreseen by the law in any case, with the only purpose that to the possible brevity the conciliatory designated makings the agreement mercantile competition." New tax to the airplane’ gas The International Association of Transport Air (IATA) previously that derived of the approval of the new tax to the airplane’ gas in Mexico an increase is observed in the costs of the tickets, and for consequence, a decrease in the movement of passengers. "To increase the costs of the fuel will go directly to the consumer's pocket and that of the ticket, and it will have a direct effect in the traffic that is the highest cost", the general director and CEO of the organism, Tony Tyler said. (La Jornada, economia, p.p. 5 - 26, November 15, 2013).