pzurita1
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GOL To Invest In Mexican Airline

Tue Jul 05, 2005 10:23 am

A couple of weeks ago, some a.netters were discussing about what country was next for LAN. It seems it was not LAN we should have had in our radar, but GOL.

GOL will invest in a new airline partnering with Fernando Chico-Pardo, who currently owns Grupo ASUR (which operates 12 airports in Mexico, among them CUN).

Chico-Pardo's Grupo ASUR and other investors will own 75% of this joint venture while GOL will keep 25% and might become the operational partner due to its very succesful experience.

According to El Norte newspaper, GOL México might start as a domestic airline flying to MEX, GDL, MTY and surely to some of ASUR airports, especially CUN and MID.

GOL MX is to use 737NG, just like its Brazilian cousin, having 5 to 10 a/c in its first stage.

Well, it seems 2005 is the year when LCC will enter Mexican market. We have:

1. Vuela: Protego and TACA new airline to be based in TLC
2. Interjet: Miguel Alemán-Magnani's based in TLC
3. A Volar: To be based in PBC.
and now
4. GOL Mexico

But hey!!!! Caution here... Though there is an agreement between Chico Pardo and GOL, they have yet to apply for the license to start operations.

PZ
Next flight: IAH-DBX-MRU-ANT
 
LipeGIG
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RE: GOL To Invest In Mexican Airline

Tue Jul 05, 2005 10:38 am

Hope the same success as Brazilian operations! A Gol network is also a strong confirmation that Gol become in the future a huge international airline. Gol will become a south American strong player and if Gol Mexico go ahead, it will be more one Latin Player!

Rgds,
Felipe
New York + Rio de Janeiro = One of the best combinations !
 
737-990
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RE: GOL To Invest In Mexican Airline

Tue Jul 05, 2005 10:55 am

The fact that an airport group wants to start an airline raises some serious anti-trust questions. I doubt the Mexican authorities would allow a direct invest by the ASUR group. I would imagine that if they did it would come with a lot of strings attached to ensure that the new airline didn't have an unfair advantage with lower rent or landing fees.
A few questions: How many capital investments has this group made in the airports it runs? Are they considering building a second runway at CUN? What is the limit of foreign ownership of an airline in Mexico, is it 25% or 49%?
Happiest is a man who has his vocation as a hobby
 
Billy
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RE: GOL To Invest In Mexican Airline

Tue Jul 05, 2005 5:26 pm

I think that you will find that ASUR is not financially involved int he airline. This is Pardo's own investment.

Interestingly, Mexican airports can own 5% of an airline.
 
pzurita1
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RE: GOL To Invest In Mexican Airline

Tue Jul 05, 2005 11:17 pm

Billy,

You are right. It is not ASUR which is financially involved, but its holding firm. ITC or ITA or some acronym I cannot remember. Chico Pardo is leading a group of investors who currently also own ITC (or ITA...)

737-990,

In Mexico, foreign shareholders can have up to 25% of total shares.

PZ
Next flight: IAH-DBX-MRU-ANT
 
Billy
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RE: GOL To Invest In Mexican Airline

Tue Jul 05, 2005 11:23 pm

Pzurita1
Yes, it is an investment vehicle. The Gol press release does state this and draws a link with the Copenhagen shareholding rather than the ASUR links.

Aircraft will be 737NG. Route network is more or less planned. Usual suspects.
 
pzurita1
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RE: GOL To Invest In Mexican Airline

Tue Jul 05, 2005 11:54 pm

Billy,

That is weird. Chico-Pardo owns 63.5% of ITA and Copenhagen Airports only 36.5%. And as I understood, agreement is between ITA and Gol.
May be GOL used Copenhagen Airports' name as it is more recognized.
Am I right?

Do you have route network to share?
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N77014
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RE: GOL To Invest In Mexican Airline

Tue Jul 05, 2005 11:56 pm

Why not just buy Azteca?
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Billy
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RE: GOL To Invest In Mexican Airline

Wed Jul 06, 2005 12:03 am

Pzurita1
TLC to the big markets - they would be mad not to do them; GDL, MTY, CUN etc.

Incidentally, I flew on Azteca last week. Dreadful flight though about half the price of the AM. I went up on the AM 73G (nice, but only ten on board)and back on the ZE 733 (full, but it was routing on to CUN). ZE landing at MEX was one of the worst I have ever experienced. I did not realise that ZE did a business class service (empty on my flight).
 
N77014
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RE: GOL To Invest In Mexican Airline

Wed Jul 06, 2005 12:19 am

Sorry about the poor Azteca impression. However, they also fly B73G's, and they have some important routes both domestic and international, including MEX-ONT.
A new life awaits you in the Off-World Colonies...
 
Billy
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RE: GOL To Invest In Mexican Airline

Wed Jul 06, 2005 12:24 am

N77014,
Thanks for the reply. You should not need feel obliged to apologise for ZE. I have flown extensively in Mexico (love the place) and do about 150 flights per year around the world, so these things happen.

I think that Gol wants to get its own cost base established in Mexico. It would have been easier to purchase the operating licence of ZE, I grant you. However, I think that they not want to inherit any of ZE's issues, which includes the inability to make money.

Billy
 
rojo
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RE: GOL To Invest In Mexican Airline

Wed Jul 06, 2005 12:34 am

Quoting Billy (Reply 10):
I think that Gol wants to get its own cost base established in Mexico. It would have been easier to purchase the operating licence of ZE, I grant you. However, I think that they not want to inherit any of ZE's issues, which includes the inability to make money.

Azteca is not for sale, so Gol or Pardo could not buy ZE license. Although ZE could be in the red (we don't know since they are not a public company), they don't even care about it, since it works as a money laundry machine!!
 
Mexicana757
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RE: GOL To Invest In Mexican Airline

Wed Jul 06, 2005 2:17 am

Seems like the Mexican aviation market will be flooded with a lot of LCCs. The war of the LCCs is about to start. Lets see who survives.
Here is the press release of GOL's and Mexican investors intentions.
http://biz.yahoo.com/prnews/050705/nytu061.html?.v=16
 
LeoDF
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RE: GOL To Invest In Mexican Airline

Wed Jul 06, 2005 2:47 am

Welcome GOL Mexico! If they do things right, they surely can take advantage on the mexican market.

And it just hit me! If they invest with Chico Pardo, they can negotiate "special" rates on every single ASUR airport... This could be fabulous as Cancun is one of the most expensive airports in America and I think in the world! WOW! This combination could be deadly!!!

Bienvenidos sean los 737-800 (really don't know what their fleet would be, but considering GOL I assume either -700 or -800)!!!

Great news!! 2006 will be THE year!!! Or so it seems!!

Saludos!

A. De Leo
"PiloT"

P.S. LAB: are you interested in starting LAB Mexico?? No? Ok! It could have been something!
Lloyd Aereo Boliviano
 
juventus
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RE: GOL To Invest In Mexican Airline

Wed Jul 06, 2005 6:13 am

Any Mexico to the USA on GOL?
 
pzurita1
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RE: GOL To Invest In Mexican Airline

Wed Jul 06, 2005 6:44 am

Quoting Juventus (Reply 14):
Any Mexico to the USA on GOL?

If they follow the business model used in Brazil, it will take them at least 3 years to break ground off national boundaries.

Moreover, if GOL MX is trully to follow GOL path (as I expect), we could see a very interesting network in a couple of years.

They might start with the usual suspects (as Billy called them): MEX, MTY, GDL, CUN, TLC. If their business model proves succesful in Mexico we could see them flying thin routes which currently have few traffic due to high prices. They could estimulate demand through low prices. Hence, routings such as BJX-CUN, MTY-MID, MTY-PBC, MEX-CEN, GDL-VER, GDL-SLW, etc.

I hope to see them in a couple of years.
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LipeGIG
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RE: GOL To Invest In Mexican Airline

Wed Jul 06, 2005 7:50 am

Quoting Juventus (Reply 14):
Any Mexico to the USA on GOL?



Quoting Pzurita1 (Reply 15):
If they follow the business model used in Brazil, it will take them at least 3 years to break ground off national boundaries

With a strong hub on Mexico, Gol MX can probably receive widebodies from Brazil and distribute pax to the US with 737NG. Imagine a company that can merge Mexico + Brazil traffic. Gol in 5 years could become a major player on Brazil-US.

Rgds,
Felipe
New York + Rio de Janeiro = One of the best combinations !
 
Brasuca
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RE: GOL To Invest In Mexican Airline

Wed Jul 06, 2005 8:15 am

Quoting LipeGIG (Reply 16):
With a strong hub on Mexico, Gol MX can probably receive widebodies from Brazil and distribute pax to the US with 737NG. Imagine a company that can merge Mexico + Brazil traffic. Gol in 5 years could become a major player on Brazil-US.

Brazilians are forbidden to transit between Mexico and USA directly, even being legal. I know someone (brazilian passport holder) who tried to take a flight from MIA to CUN and was denied boarding because of this rule.
Varig, Varig, Varig
 
LipeGIG
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RE: GOL To Invest In Mexican Airline

Wed Jul 06, 2005 8:22 am

Quoting Brasuca (Reply 17):
Brazilians are forbidden to transit between Mexico and USA directly, even being legal. I know someone (brazilian passport holder) who tried to take a flight from MIA to CUN and was denied boarding because of this rule.

Hi Brasuca! I've added you on Orkut.
It's sounds crazyness ! I can't believe on this as my Director has just travel from MIA to MEX to attend a bankers Meeting. I do believe that someone with a valid passport is authorized to travell wherever it wants (and the passport states that is valid on any country that keeps diplomatic relations with us). Does anyone knows any other case ? Am i wrong ?

Rgds,
Felipe
New York + Rio de Janeiro = One of the best combinations !
 
juventus
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RE: GOL To Invest In Mexican Airline

Wed Jul 06, 2005 8:50 am

This is begining to look like a very good idea. GOL can battle the LCCs from the US such as Airtran, ATA, America West, Frontier, and Spirit.
 
Brasuca
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RE: GOL To Invest In Mexican Airline

Wed Jul 06, 2005 9:08 am

LipeGIG,

Ei, valeu, cara!! Vou lá ver!!

I too find it very strange. Tried to find a reason to it, but nothing came up in my mind.

Quoting LipeGIG (Reply 18):
I do believe that someone with a valid passport is authorized to travell wherever it wants (and the passport states that is valid on any country that keeps diplomatic relations with us)

This does not automatically grant us entrance to them. There are always anomaly rules to be accomplished. And the issue isn't about our passport validity, but the way we might be using it.

For example, if you hold Isareli stamp in your passaport, you will definitely be denied entering most of arab countries. The same happens with a cuban stamped passports, when entering the US.

Maybe this applies only if you are going for tourism purposes to MEX, case in which we brazilians don't need a visa. Never realised to check it out, but I will and post here.
Varig, Varig, Varig
 
LipeGIG
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RE: GOL To Invest In Mexican Airline

Wed Jul 06, 2005 9:16 am

Quoting Brasuca (Reply 20):
Maybe this applies only if you are going for tourism purposes to MEX, case in which we brazilians don't need a visa. Never realised to check it out, but I will and post here.

I will be on MIA and LAX during august and first days of september. I should check it too. Hope i can get into Mexico by plane from the US.  Smile

Regards,
Felipe
New York + Rio de Janeiro = One of the best combinations !
 
PPVRA
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RE: GOL To Invest In Mexican Airline

Wed Jul 06, 2005 12:19 pm

Quoting LipeGIG (Reply 18):
Quoting Brasuca (Reply 17):
Brazilians are forbidden to transit between Mexico and USA directly, even being legal. I know someone (brazilian passport holder) who tried to take a flight from MIA to CUN and was denied boarding because of this rule.

Hi Brasuca! I've added you on Orkut.
It's sounds crazyness ! I can't believe on this as my Director has just travel from MIA to MEX to attend a bankers Meeting. I do believe that someone with a valid passport is authorized to travell wherever it wants (and the passport states that is valid on any country that keeps diplomatic relations with us). Does anyone knows any other case ? Am i wrong ?



Quoting LipeGIG (Reply 21):
I will be on MIA and LAX during august and first days of september. I should check it too. Hope i can get into Mexico by plane from the US. Smile

My uncle flew GRU-MEX-ATL-GRU about 3 years ago. Unless this is something new, it really is very strange.

PPVRA
"If goods do not cross borders, soldiers will" - Frederic Bastiat
 
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TheRedBaron
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RE: GOL To Invest In Mexican Airline

Wed Jul 06, 2005 12:45 pm

It seems to me the market has become crowded before first flight!..

I think who survives will depend on 2 factors, loads and taxes, as you may know the taxes and fees imposed on tickets are quite high, maybe they know something we dont know but, if taxes on flying do NOT go down, basically we see the start AND the end of real LLC in MExico..

example of lineas Azteca: fare cost r/t 426 plus 7 dollar taxes MEx other taxes 96.30 remember this si suposedly a LLC and this is the super cheap fare... totals.... 530 USD$ !!!

Aeromexico Costs 506 USD$ and 549 to LAX!

United : 534.95 USD$

I have a wait and see attitude....

TRB
The best seat in a Plane is the Jumpseat.
 
fly727
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RE: GOL To Invest In Mexican Airline

Wed Jul 06, 2005 1:54 pm

Quoting Brasuca (Reply 20):
For example, if you hold Isareli stamp in your passaport, you will definitely be denied entering most of arab countries. The same happens with a cuban stamped passports, when entering the US.

I have a Cuba stamp in my passport and haven't had any problems when entering the US (both air and land); although I know that in Cuba it is not uncommon for scared -or ignorants- tourist to fold a dollar inside the passport for the immigration officer not to stamp it.

Quoting Pzurita1 (Thread starter):
1. Vuela: Protego and TACA new airline to be based in TLC
2. Interjet: Miguel Alemán-Magnani's based in TLC
3. A Volar: To be based in PBC.
and now
4. GOL Mexico

As a matter of fact I was just informed from a reliable source that A volar will, instead of PBC, be based out of TIJ. Also, add to the newcomers list Aerolineas Mesoamericanas headed by Manuel Heredia.

Heard that Interjet will be having crew bases in CUN to attend the charter market once held by Allegro. Sounds interesting.

We should also add to the list those that currently are on their way of expansion or survival: Nova Air, Global Air, Tropical and Republic Air. Don't want to be negative on this, but don't see success for either of them once the super powers listed above start ops.

RM  Smile
There are no stupid questions... just stupid people!
 
Mexicana757
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RE: GOL To Invest In Mexican Airline

Wed Jul 06, 2005 3:10 pm

Quoting Fly727 (Reply 24):
As a matter of fact I was just informed from a reliable source that A volar will, instead of PBC, be based out of TIJ. Also, add to the newcomers list Aerolineas Mesoamericanas headed by Manuel Heredia.

Do you know the reason why they decided to start at TIJ instead? Maybe they are seeing that the area airports around MEX are getting crowded or going to tap into the Southern California market.
 
juventus
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RE: GOL To Invest In Mexican Airline

Wed Jul 06, 2005 9:52 pm

Gol to bring its low-fare model to Mexico (ATWONLINE.COM)
Wednesday July 6, 2005
Brazil's Gol announced plans to establish a low-cost carrier in Mexico in partnership with Inversiones y Tecnicas Aeroportuarias, SA de CV, Fernando Chico Pardo and CPH.The carrier, which will based on the same model that has made GOL an outstanding success, is expected to commence flights in the second quarter of 2006.

"Through our Mexican partnership, we plan to introduce the benefits of low-cost, low-fare air travel to Mexico and collaborate in the development of the local airline sector. We believe that the Gol concept and business model can be successfully established in the Mexican market and produce benefits for all segments of the population," Gol CEO Constantino de Oliveira Jr. said.

Nothing was said about possible USA routes. How do MX and AM feel about this?
 
fly727
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RE: GOL To Invest In Mexican Airline

Thu Jul 07, 2005 2:41 am

Quoting Mexicana757 (Reply 25):
Do you know the reason why they decided to start at TIJ instead? Maybe they are seeing that the area airports around MEX are getting crowded or going to tap into the Southern California market.

I ignore the stats but I believe that TIJ hasn't had a stronger operation than now. The ethnic flow is impressive and A volar surely wants a bite of the cake. After all, on most of the domestic routes served to/from TIJ three carriers (top) share the market whereas in routes such as MEX-CUN seems that the only airline missing to operate is perhaps Qantas  Wink

Aviacsa has realized that fact also and recently based crews and airplanes permanently in TIJ in an effort to consolidate it as a hub.

RM  Smile
There are no stupid questions... just stupid people!
 
stirling
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RE: GOL To Invest In Mexican Airline

Thu Jul 07, 2005 2:58 am

Are there not limitations to the terminal facilities at TIJ?

Is there any type of existing ground transportation links from the US side of the border to TIJ?

What about the other major border metros? Juarez and Matamoros...Are they being included in this new swell of LCC operators?

Quoting Theredbaron (Reply 23):
I think who survives will depend on 2 factors, loads and taxes, as you may know the taxes and fees imposed on tickets are quite high, maybe they know something we dont know but, if taxes on flying do NOT go down, basically we see the start AND the end of real LLC in MExico..

Well, there are other LCCs in nations with high taxes that seem to do alright. Canada and Europe come to mind. Not sure how they compare (euro<>peso<>dollar); since I've never converted the currencies...but I don't think Mexico is up in the highest bracket yet. On tickets I've purchased they've seemed high, but nothing out of the ordinary....
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pzurita1
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RE: GOL To Invest In Mexican Airline

Thu Jul 07, 2005 3:17 am

Quoting Fly727 (Reply 27):
I ignore the stats but I believe that TIJ hasn't had a stronger operation than now.

Surprisingly, TIJ current traffic is only a fraction of what it used to be around 1994. In the past few years (2000-2004) it has shown a minimal annual average growth of only 0.7%.

I am sure, that if TIJ once peaked 4.1M pax, it can do it again. Hence A Volar reported interest in taking TIJ as hub.

OTH, can we call it a hub???? It allows zero domestic connections. All its routes are purely O&D with no international flights (or demand) to connect to...
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stirling
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RE: GOL To Invest In Mexican Airline

Thu Jul 07, 2005 4:41 am

Quoting Pzurita1 (Reply 29):
TIJ current traffic is only a fraction of what it used to be around 1994. In the past few years (2000-2004) it has shown a minimal annual average growth of only 0.7%.

Why is that?
Fares?
It will be interesting to see the "Southwest Effect" on TIJ.
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fly727
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RE: GOL To Invest In Mexican Airline

Thu Jul 07, 2005 5:05 am

Quoting Stirling (Reply 28):
Is there any type of existing ground transportation links from the US side of the border to TIJ?

Yes, there are some, although the real business takes place from TIJ to the US side; there are several bus companies along the border line (San Ysidro). Some even sell tickets from TIJ airport to every single and unknown county in California.

Quoting Stirling (Reply 30):
Why is that?
Fares?
It will be interesting to see the "Southwest Effect" on TIJ.

Reason is the economic boom of Mexico during the last years of reign of President Salinas de Gortari and the later downfall shortly after he left the house. Added to that, there indeed existed a "Taesa Effect" which lowered the cost of aerial transportation (Someone here recalls the 99 pesos one-way MEX-TIJ?).

RM  Smile
There are no stupid questions... just stupid people!
 
N77014
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RE: GOL To Invest In Mexican Airline

Thu Jul 07, 2005 5:23 am

Quoting Mexicana757 (Reply 25):
Quoting Fly727 (Reply 24):
As a matter of fact I was just informed from a reliable source that A volar will, instead of PBC, be based out of TIJ. Also, add to the newcomers list Aerolineas Mesoamericanas headed by Manuel Heredia.

Do you know the reason why they decided to start at TIJ instead? Maybe they are seeing that the area airports around MEX are getting crowded or going to tap into the Southern California market.

Actually there is tremendous travel from the interior to TIJ. With MEX weight restricted, it can get hard moving all those who want to do the route.
A new life awaits you in the Off-World Colonies...
 
stirling
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RE: GOL To Invest In Mexican Airline

Thu Jul 07, 2005 5:29 am

Quoting Fly727 (Reply 31):
Added to that, there indeed existed a "Taesa Effect" which lowered the cost of aerial transportation (Someone here recalls the 99 pesos one-way MEX-TIJ?).

So the dropoff in traffic can be attributed to TAESA going out of business?
It's hard to believe that it's taken this long for another airline to finally realize the traffic potential that exists in Baja Norte.
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ghost77
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RE: GOL To Invest In Mexican Airline

Thu Jul 07, 2005 7:02 am

Quoting Fly727 (Reply 24):
As a matter of fact I was just informed from a reliable source that A volar will, instead of PBC, be based out of TIJ. Also, add to the newcomers list Aerolineas Mesoamericanas headed by Manuel Heredia.

Smart move! If they start out from TIJ I'm sure they won't suffer with LF, traffic and yields are there! AFAIK they will start with a sole B735 followed by a second frame later this year, so I think there won't be fares war among the airlines as A Volar will be a very small start-up.

Global Air and Nova Air are also small players, Republic Air got a charter license from SCT, so in order to start schedule flights they will need to go back to SCT and request for a schedule license, and that takes time, so in the mean time this airlines will not represent a real and direct competition, the only ones affected here are MX,AM,VW,GMT charter divisions.

Quoting Fly727 (Reply 24):
Heard that Interjet will be having crew bases in CUN to attend the charter market once held by Allegro. Sounds interesting.

Wow! Good news and smart move from Interjet! If they are going for AeroCancun/LaTur/Allegro/Taesa's charter market this will represent less seats in our domestic market and over capacity! If they do it as they say they will, then I think they'll have a successful start of operations.

Quoting Fly727 (Reply 27):
I ignore the stats but I believe that TIJ hasn't had a stronger operation than now.

Pzurita1, perhaps can help me on this one, probably TIJ's operations have increased in the last years, this is, more flights with less capacity, mainly 737/320s serving now TIJ, compared to the early 90s, when TIJ had less flights but received Taesa's B767, Dc10s, 757s, 737s all day long, plus MX/AM Dc10s/767/757s,

Quoting Pzurita1 (Reply 29):
Surprisingly, TIJ current traffic is only a fraction of what it used to be around 1994. In the past few years (2000-2004) it has shown a minimal annual average growth of only 0.7%.

I think we should attribute this to TAESA, which certainly dominate that airport at the time, they used to send Dc9-15s all the way to Dc10s!

Quoting Pzurita1 (Reply 29):
I am sure, that if TIJ once peaked 4.1M pax, it can do it again. Hence A Volar reported interest in taking TIJ as hub.

A Volar will be a small player at the beginning, but probably once in the air and taking TIJ as a hub they could even dominate the airport as once GD did.

Quoting Stirling (Reply 33):
So the dropoff in traffic can be attributed to TAESA going out of business?

I say, YES. TIJ along with CUN, MEX and GDL were the most important airports for the airline!

Ricardo APM
Ricardo Morales - flyAPM - ¡No es que maneje rapido, solo estoy volando lento!
 
PPVRA
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RE: GOL To Invest In Mexican Airline

Thu Jul 07, 2005 11:33 am

Any guesses of when service might begin?

How about Q1/06?

PPVRA
"If goods do not cross borders, soldiers will" - Frederic Bastiat
 
Fyano773
Posts: 536
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RE: GOL To Invest In Mexican Airline

Thu Jul 07, 2005 4:05 pm

Quoting PPVRA (Reply 35):
Any guesses of when service might begin?

According to América Economía magazine, service will start Q2/2006:

Goal creates new airline to compete with Cintra (AméricaEconomía.com)

An alliance to create a popular air line in Mexico finish announcing the Mexican industralist Francisco Chico Pardo and the Brazilian company Goal, informed yesterday the Brazilian edition into the financial channel Bloomberg.

According to Bloomberg, Chico Pardo, who controls the administrator of Mexican airports Asur, will have 60% of the new company that will develop in Mexico the project to sell passages to low cost, according to the model of "created popular airline" in Brazil by Goal (Intelligent Air lines), company/signature that was born in 2001 and which it has 27,6% of the market of this South American country, by on the airlines Varig and TAM.

"The Mexican market of civil aviation transports almost 30 million passengers every year, and is the second greatest one of Latin America after Brazil ", showed GOAL through an official notice. Therefore, "the Mexican local aerial market has many similarities with the Brazilian, including great cities that are not taken care of, great geographic distances and traditionally high tariffs", added the document spread by GOAL.

"In Mexico there is space for GOAL because there it does not operate any airline of low cost, but the Mexican market is enormous. It could lose the center with the expansion ", explained the analyst of the Pentagono brokerage in Rio de Janeiro, Marcelo Ribeiro, that recognized that the decision could be prematura. "Creo that is an audacious measurement, would be better than first consolidated its participation in the Brazilian market.

With doubts around Varig, GOAL could have more opportunities here ", added Ribeiro. A to weigh of it, other two Mexican airlines of low cost, Cintra and ABC, glides to next begin operations in a market segment that has grown quickly in the United States and Europe with results mixtos.

For now, Goal, that initiated their operations in 2001 in Brazil with a USS investment 20 million and six airplanes Boeing 737, will see the beginning of the operations of their new airline in Mexico during the second trimester of 2006.


Fyano

Ooops, I didn't see Juventus' Reply 26  Smile

[Edited 2005-07-07 09:15:37]
 
EddieDude
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RE: GOL To Invest In Mexican Airline

Fri Jul 08, 2005 1:27 am

Just some random comments on some of the opinions and facts posted in this thread.

1. The 25% equity ownership limit is a voting stock limit. In other words, a foreign shareholder can apply for an authorization to own, in addition to 25% of the voting shares of an airline, additional non-voting shares up to a percentage that the corresponding authority approves at its sole discretion.

2. Mesoamericanas failed to secure an investment from a major private equity fund that is very active in Mexico, so their future is not yet certain; I assume they are still in discussions with other investors to secure funds.
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ghost77
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RE: GOL To Invest In Mexican Airline

Fri Jul 08, 2005 2:54 am

Quoting EddieDude (Reply 37):
additional non-voting shares up to a percentage that the corresponding authority approves at its sole discretion

Correct, which by law is limited to a 49%. This is a 25% stake of voting shares plus 24% of non-voting shares.

Ricardo APM
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