HEGAN
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Iberia Not Buying In Mexico (Air Europa, Yes)

Thu Oct 13, 2005 11:31 pm

Iberia has confirmed to EFE News Agency they will not present a bid in the sale of Cintra's Aeromexico and Mexicana.

Before October 7 the biding consortium had to be formed. There, a local player must have the majority of the stocks. Now, until November 21, the consortium must present their economical and technical proposals.

Globalia (the owner of Air Europa) will present a bid for both Aeromexico and Mexicana. In its consortium, Globalia will have the 25%, and if they finally buy one of the airlines (they can't buy both), their participation will be the 12.5% (as the stocks in sale are the 51%).

There are 4 consortium interested in both Aeromexico and Mexicana (one of them is Globalia) and there is another one just interested in Mexicana.

Agur,
HEGAN
HEGAN: Euskadiko Aeronautikako eta Espazioko Clusterra
 
HEGAN
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RE: Iberia Not Buying In Mexico (Air Europa, Yes)

Thu Oct 13, 2005 11:35 pm

This Sunday Air Europa's President said the airline will have loses in 2005, but that they would be balanced by the other companies of the Globalia Corporation.

It doesn't seem to be the best moment to buy an airline, but of course the opportunity is only now available.

Agur,
HEGAN

[Edited 2005-10-13 16:41:47]
HEGAN: Euskadiko Aeronautikako eta Espazioko Clusterra
 
XA744
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RE: Iberia Not Buying In Mexico (Air Europa, Yes)

Fri Oct 14, 2005 3:50 am

Quoting HEGAN (Reply 1):
It doesn't seem to be the best moment to buy an airline, but of course the opportunity is only now available.

Yes HEGAN, you are absolutely right. However, GLobalia should be very careful and double check every single issue in regards to acquiring an airline in which the more they can own is a mere 25%.... a single quarter !

Now, on the other hand, I truly believe that anyone that invests now in Mexico´s aviation industry will never regret it !

Regards
No matter how you fly...just never get your wings clipped !
 
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ERJ170
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RE: Iberia Not Buying In Mexico (Air Europa, Yes)

Fri Oct 14, 2005 4:01 am

I can only hope that whomever gets in on MX and AM will purchase the E70 family and finally do a 2x daily RDU flight..

Or at least I can hope..  Smile
Aiming High and going far..
 
juventus
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RE: Iberia Not Buying In Mexico (Air Europa, Yes)

Fri Oct 14, 2005 5:56 am

Quoting HEGAN (Thread starter):
Iberia has confirmed to EFE News Agency they will not present a bid in the sale of Cintra's Aeromexico and Mexicana

Oh well, I stand corrected.....
 
HEGAN
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RE: Iberia Not Buying In Mexico (Air Europa, Yes)

Fri Oct 14, 2005 4:21 pm

Here is the link (in Spanish):
http://www.finanzas.com/id.8714834/noticias/noticia.htm

Iberia has decided not to present a bid due to the small participation they are allowed to have (up to 25%). They say also that maybe nor Aeromexico nor Mexicana would be ready to compete with new LCC that are appearing, and the possibility for Iberia now is to buy a LCC for being able to strength their position.

Agur,
HEGAN
HEGAN: Euskadiko Aeronautikako eta Espazioko Clusterra