No offense, but I hope it doesn't happen. Iberia's move with Aerolineas Argentinas was nothing but disaster for both companies
Yes and no, IB
was controlled by SEPI (like the Fobaproa in Mexico) and SEPI made a reorganization plan for IB
which has been very successful. Their cash flow is great, and they have good money in the bank. SEPI tried to do the same thing with AR
, but their unions didn't let that happen, so they sold that to a new investor: the same group that holds 25% of JK
is doing fairly well in terms of profit.
To be honest, I particularly dislike IB
, and I don't think MX
fits in their strategy. They foresee a union with BA
is doing with AF
. If they were thinking small, TP
is more strategic than MX
relation with it's pilot union is a mess. Every summer they are in a tough battle. Last year seamed to be the first with not that big disruption...and I think MX
's relation with its unions is by far much better.
What CINTRA could be doing is trying to get the purchase price higher, that could be the reason to pullout from *A and have no compromises of any kind.
Rumors have been around for a long time, once it was UA
, then LH
, at some point CO
. Now IB
. The topic is getting hot, but the privatization process will be long if they have to go with an international public licitation.