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Mexican Merger?: Volaris And Interjet?  
User currently offlinebjorn14 From Norway, joined Feb 2010, 3369 posts, RR: 2
Posted (4 years 1 week 5 days 20 hours ago) and read 3434 times:

It seems Volaris and Interjet maybe making eyes at one another as speculated by routesonline. Any a.netters in Mexico heard anything?

http://www.routesonline.com/news/36/...b/85563/merger-marriage-in-mexico/


"I want to know the voice of God the rest is just details" --A. Einstein
13 replies: All unread, jump to last
 
User currently offlinemiller22 From United States of America, joined Nov 2000, 716 posts, RR: 4
Reply 1, posted (4 years 1 week 5 days 19 hours ago) and read 3397 times:

I'd be willing to bet Volaris will end up with a new owner one way or another. It'll either be Interjet (best bet for them) or it'll be TACA.

User currently offlineMexicana757 From United States of America, joined Apr 2001, 3028 posts, RR: 29
Reply 2, posted (4 years 1 week 5 days 18 hours ago) and read 3336 times:

Quoting miller22 (Reply 1):
I'd be willing to bet Volaris will end up with a new owner one way or another. It'll either be Interjet (best bet for them) or it'll be TACA.

Most likely it will be Interjet. TACA already owns 25% of Volaris the maximum a foreign owner is allowed to own of Mexican airline.


User currently offlinemarcus From Mexico, joined Apr 2001, 1775 posts, RR: 2
Reply 3, posted (4 years 1 week 5 days 17 hours ago) and read 3261 times:

Quoting miller22 (Reply 1):
I'd be willing to bet Volaris will end up with a new owner one way or another. It'll either be Interjet (best bet for them) or it'll be TACA.

Why is Volaris the most likely candidate for this and not Interjet?....is it because of their financial situation?



Kids!....we are going to the happiest place on earth...TIJUANA! signed: Krusty the Clown
User currently offlineAM744 From Mexico, joined Jun 2001, 1770 posts, RR: 0
Reply 4, posted (4 years 1 week 5 days 17 hours ago) and read 3236 times:

Quoting Mexicana757 (Reply 2):
TACA already owns 25% of Volaris the maximum a foreign owner is allowed to own of Mexican airline.

Actually I think the threshold is 49%

Quoting marcus (Reply 3):
Why is Volaris the most likely candidate for this and not Interjet?....is it because of their financial situation?

Interjet broke into lucrative MEX months before Volaris which was left out in the cold at TLC. Maybe that has to do with both companies' liquidity? I seem to have read that part of Volaris' ownership wanted to pull out from the airline business even though they have deep pockets, and perhaps they'd like to keep it that way  .


User currently offlinemiller22 From United States of America, joined Nov 2000, 716 posts, RR: 4
Reply 5, posted (4 years 1 week 5 days 16 hours ago) and read 3174 times:

Quoting marcus (Reply 3):
Why is Volaris the most likely candidate for this and not Interjet?....is it because of their financial situation?

It's all comes down to family ownership in Mexico. Who has the owners with the deeper pockets? Interjet. Hence Interjet makes the offer.


User currently offlineEddieDude From Mexico, joined Nov 2003, 7558 posts, RR: 43
Reply 6, posted (4 years 1 week 5 days 14 hours ago) and read 3116 times:

Quoting marcus (Reply 3):
Why is Volaris the most likely candidate for this and not Interjet?....is it because of their financial situation?
Quoting AM744 (Reply 4):
Interjet broke into lucrative MEX months before Volaris which was left out in the cold at TLC. Maybe that has to do with both companies' liquidity? I seem to have read that part of Volaris' ownership wanted to pull out from the airline business even though they have deep pockets, and perhaps they'd like to keep it that way .

Volaris is the target because two of Volaris' Mexican shareholders want out. Aviation is not the core business of any of them and the relationship between them is not good at the moment. Hence, the desire to divest.

Some weeks ago there was a thread that discussed this issue. Essentially, Interjet offered to buy SINCA Inbursa and Televisa's shares but the other shareholders of Volaris have rights of first refusal. It looks like Protego/Discovery did not like the Interjet offer, even though it was financially very generous. What makes things complicated is that due to foreign investment restrictions, Discovery and the Kriete family cannot increase their ownership through the purchase of the Inbursa and Televisa stakes.

Yesterday, some columnist mentioned that Roberto Kriete's sister had obtained Mexican citizenship and an option was to have her acquire shares. Another option mentioned in the press was to ask the local authorities to treat Discovery as a Mexican investor due to the fact that a local government-owned bank was a major investor in the fund (can't be sure, but I think it was Nacional Financiera, S.N.C.).

Quoting AM744 (Reply 4):
Actually I think the threshold is 49%

I thought the threshold was a 25% of full voting stock (no possibility of increasing it), with the possibility of airlines applying for a higher percentage of foreign investment through Series "N" or non-voting stock. I remember a colleague mentioned several years ago that the foreign investment authorities were willing to authorize up to 49% of foreign ownership on a fully diluted basis, so long as the foreign investors only controlled 25% of the votes.



Next flights: MEX-GRU (AM 77E), GRU-GIG (JJ A320), SDU-CGH (G3 73H), GRU-MEX (JJ A332).
User currently offlineMexicana757 From United States of America, joined Apr 2001, 3028 posts, RR: 29
Reply 7, posted (4 years 1 week 5 days 14 hours ago) and read 3085 times:

Quoting miller22 (Reply 5):

It's all comes down to family ownership in Mexico. Who has the owners with the deeper pockets? Interjet. Hence Interjet makes the offer.

Volaris has the owners with deeper pockets, they have the world richest person owning 25%, Carlos Slim. And Televisa, the largest producer of Spanish language television.


User currently offlineff22DXB From United Arab Emirates, joined May 2008, 97 posts, RR: 0
Reply 8, posted (4 years 1 week 5 days 14 hours ago) and read 3072 times:

Assuming Interjet takes over Volaris, what would you think will happen in terms of destinations? Will they keep MEX as their #1 hub or keep a mix between Toluca and MEX?? What would you think happen about internation destinations?

User currently offlinenetjetsintl From United States of America, joined Jul 2009, 593 posts, RR: 0
Reply 9, posted (4 years 1 week 5 days 13 hours ago) and read 3040 times:

Quoting EddieDude (Reply 6):
Volaris is the target because two of Volaris' Mexican shareholders want out. Aviation is not the core business of any of them and the relationship between them is not good at the moment. Hence, the desire to divest.

Yes sir, Volaris seems to be doing better than Interjet...Volaris should be stronger and larger than Interjet if things remain as they are, but as Eddie mentioned. Azcarraga and Slim (the richest man alive) want out, so Volaris is the target.. that's it and that's that...

As far as a "merger" I just don't see it. The Volaris name will survive depending on who buys it


User currently offlineDesertAir From Mexico, joined Jan 2006, 1457 posts, RR: 0
Reply 10, posted (4 years 1 week 5 days 8 hours ago) and read 2909 times:

Mexico seems large enough for five airlines: AM, MX, Volaris, Interjet and Viva Aerobus. All of these airlines seem to do a good business here in Tijuana, not only serving the 1.5 million people who live here but a lot of USA O and D. With the new Tijuana Airport extention being built in the USA side of, USA and Mexican citizens can cross directly into the airport form the USA side and avoid crossing at San Ysidro or Otay-Mesa. This should increase loads.

User currently offlineEddieDude From Mexico, joined Nov 2003, 7558 posts, RR: 43
Reply 11, posted (4 years 1 week 5 days 5 hours ago) and read 2831 times:

Quoting DesertAir (Reply 10):
Mexico seems large enough for five airlines: AM, MX, Volaris, Interjet and Viva Aerobus.

Everybody forgets about Aeromar. I dunno if it is because business passengers-oriented or if it is because of their all-ATR 42s fleet, but people always forget Aeromar.



Next flights: MEX-GRU (AM 77E), GRU-GIG (JJ A320), SDU-CGH (G3 73H), GRU-MEX (JJ A332).
User currently offlinemarcus From Mexico, joined Apr 2001, 1775 posts, RR: 2
Reply 12, posted (4 years 1 week 4 days 17 hours ago) and read 2711 times:

Quoting DesertAir (Reply 10):
With the new Tijuana Airport extention being built in the USA side of,

????????????????????????????????????????

I know that plan has been there since at least a decade.....has construction started on this? really?



Kids!....we are going to the happiest place on earth...TIJUANA! signed: Krusty the Clown
User currently offlineDesertAir From Mexico, joined Jan 2006, 1457 posts, RR: 0
Reply 13, posted (4 years 1 week 4 days 9 hours ago) and read 2604 times:

I checked out the information and the project is moving slowly and is being studied by the San Diego Regional Airport authority. It may have a start date in 2011. I recently read an article in the Frontera, a Tijuana newspaper that made it sound like the project was on its way. The next time I go to the airport in Tijuana I will check to see if there is any movement.

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