Juventus From United States of America, joined Dec 2004, 2835 posts, RR: 2 Posted (7 years 8 months 3 weeks 3 days 13 hours ago) and read 1594 times:
CINTRA expects to get about $690 million for the sale of MX and $600 for AM. According to the article, the Spanish companies Iberia and Globalia (Air Europe) seem really interested. article in spanish only..
EddieDude From Mexico, joined Nov 2003, 7170 posts, RR: 45 Reply 2, posted (7 years 8 months 3 weeks 3 days 10 hours ago) and read 1494 times:
CINTRA will sell, in each case, at least 51 percent, if I am not mistaken. The government would like to retain a minority participation in each carrier and will likely negotiate registration rights and put options in order to have the chance to get rid of said minority participation in the future. The registration rights are so that CINTRA can sell the shares in the open market (i.e., the stock exchange) at any given time there is a window of opportunity. The put option will force each new owner to buy more shares of AM or MX, as the case may be, from CINTRA, and will guarantee to CINTRA a minimum sale price for its minority interests if it believes down the road that keeping them is not a good business proposition.
By the way, BBVA Bancomer sold its CINTRA shares through a series of operations in the stock exchange and recouped some of its money. Cynics thought this meant that BBVA Bancomer did not trust that the sale would happen (or that an adequate price would be obtained), however, since the price of CINTRA's shares has continued to increase, there is confidence that the divestiture will be a success. Let's see if the other banks (Citigroup's Banamex, Santander-Serfin and another one I can't remember keep their CINTRA shares or sell them like BBVA Bancomer did).
Juventus From United States of America, joined Dec 2004, 2835 posts, RR: 2 Reply 3, posted (7 years 8 months 3 weeks 3 days 8 hours ago) and read 1450 times:
If you ask me, I would say that its beginning to look more and more like Iberia is going to get a piece of Mexicana. Who gets AM its a little bit more uncertain..
EddieDude From Mexico, joined Nov 2003, 7170 posts, RR: 45 Reply 4, posted (7 years 8 months 3 weeks 2 days 21 hours ago) and read 1357 times:
The due diligence process has begun or will begin shortly, and the interested parties (especially the foreign ones) are forming now the consortiums that will make the bids; said consortiums are expected to be ready next month. Since IB needs to team up with one or more Mexican investors, I would not be surprised to see one or more Mexican investors who showed interested in MX team up with IB. As for AM, the same could be said with respect to UX' parent Globalia. Globalia is interested in AM, and it is probably getting together now with a number of Mexican investors in order to make a bid for the carrier soon.
Just for the record, a third airline company has shown interest, and it is a European one (in theory it is not LH). Its identity, however, remains undisclosed.
Juventus From United States of America, joined Dec 2004, 2835 posts, RR: 2 Reply 5, posted (7 years 8 months 3 weeks 2 days 18 hours ago) and read 1288 times:
Hey Eddie, how are you doing...
I find it intriguing that they expect more money out of MX than AM. One on one, MX could be more valuable, but AM comes with Aerolitoral, and Aerolitoral is far larger than CLICK.
PRAirbus From Puerto Rico, joined Apr 2005, 1012 posts, RR: 1 Reply 6, posted (7 years 8 months 3 weeks 2 days 18 hours ago) and read 1284 times:
IB buying MX? AA is standing-by. If IB gets its hands on MX...Mexicana will definitely join oneworld once the dust is settled. According to AA Management that is very likely.
Adriaticus From Mexico, joined May 2004, 1112 posts, RR: 21 Reply 7, posted (7 years 8 months 3 weeks 2 days 18 hours ago) and read 1282 times:
Quoting EddieDude (Reply 4): Just for the record, a third airline company has shown interest, and it is a European one (in theory it is not LH). Its identity, however, remains undisclosed.
In airline lawyers' circles, an ongoing chat is about AF showing interest for AM.
This sounds reasonable given the fact they are both primary members of SkyTeam, they codeshare in a number of flights, and share GSE's and other equipments and teams in several destinations.
From my personal point of view, after having had a chance of flying in Y and J classes on both, one flight after another, I believe their philosophy of service (both corporate and in the face of the customer) are pretty similar, and their respective qualities, reasonably similar too. Fact is, AM's J-class product is a lot closer to AF's, than, let's say, those of DL, NW or CO.
Ghost77 From Mexico, joined Mar 2000, 5126 posts, RR: 53 Reply 8, posted (7 years 8 months 3 weeks 2 days 17 hours ago) and read 1235 times:
Quoting Juventus (Reply 5): One on one, MX could be more valuable, but AM comes with Aerolitoral, and Aerolitoral is far larger than CLICK.
Yeah, but there's not much difference. 5D last year flew 1M vs 845K pax from QA. Only a difference of 155,000 pax! Add two more aircraft to QA and they will pass 5D.
Ricardo APM
Ricardo Morales - flyAPM - ¡No es que maneje rapido, solo estoy volando lento!
Commavia From United States of America, joined Apr 2005, 10188 posts, RR: 63 Reply 9, posted (7 years 8 months 3 weeks 2 days 16 hours ago) and read 1205 times:
Quoting EddieDude (Reply 4): Since IB needs to team up with one or more Mexican investors, I would not be surprised to see one or more Mexican investors who showed interested in MX team up with IB.
Yep -- IMO, IB really wants into MX, for obvious reasons, and I think the Latin American "quadruple threat" (AA-MX-IB-LA) would be a knock-out for the region and for oneworld.
Quoting PRAirbus (Reply 6): IB buying MX? AA is standing-by. If IB gets its hands on MX...Mexicana will definitely join oneworld once the dust is settled. According to AA Management that is very likely.
Agreed. AA (and IB) is counting the moments until MX joins oneworld.
Aisak From Spain, joined Aug 2005, 757 posts, RR: 11 Reply 10, posted (7 years 8 months 3 weeks 2 days 12 hours ago) and read 1142 times:
Quoting Commavia (Reply 9): Yep -- IMO, IB really wants into MX, for obvious reasons, and I think the Latin American "quadruple threat" (AA-MX-IB-LA) would be a knock-out for the region and for oneworld.
Do you think IB will set a hub in Mexico like the former MIA base? Or will continue with non-stop extra-long-haul flights?
Juventus From United States of America, joined Dec 2004, 2835 posts, RR: 2 Reply 12, posted (7 years 8 months 3 weeks 2 days 9 hours ago) and read 1081 times:
This could be really good or really bad for MX and AM, depends on what they decide to do with them. For all we know, whoever gets Aeromexico could order a few more 777s, and a bunch of ERJs for Aerolitoal, you never know. I don't think a foreign airline will buy one of this two airlines, and tear them up. The Mexican investors simply will never allow that. (I hope I'm right)
IB787 From Spain, joined Jun 2005, 126 posts, RR: 0 Reply 13, posted (7 years 8 months 3 weeks 2 days 1 hour ago) and read 1035 times:
Quoting Aisak (Reply 10):
Do you think IB will set a hub in Mexico like the former MIA base? Or will continue with non-stop extra-long-haul flights?
If IB buys MX I just see MX flying to MAD and may be some extra IB flights MAD-MEX (service may be upgraded to 2 daily). I don't really see a hub like Miami base.
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