La compagnia aerea Mexicana ha chiesto l'equivalente messicano del Chapter 11 negli USA
Prego gli amministratori di fondere questo thread con quello precedente riguardo il Messico e MX se lo ritengono opportuno.
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Mexicana files for creditors' protection in Mexico, US; seeks labor concessions
Created 2010-08-03 17:14
By Aaron Karp
Mexicana Airlines filed for protection from creditors in Mexico and the US late Monday, conceding in a statement that its "financial and labor situation is no longer sustainable."
It said it filed a "voluntary petition to commence a case under the Mexican Business Reorganization Act" and has also filed for Chapter 15 bankruptcy protection in the US. Most of the aircraft operated by the airline are leased and court protection is needed to prevent the seizing of those assets.
The company said it plans to continue operations with only "minor adjustments” (ATW Daily News, Aug. 3 [2]) adding that the filings "will in no way affect the operations, flights or itineraries of MexicanaClick and MexicanaLink." Despite being subsidiaries of MX, "these airlines operate under completely different business models," the airline stated.
MX asserted its labor costs are sinking it, claiming that its pilots earn 49% more than the "average wage" paid by US legacy airlines and "185% more than the average pilots flying A320s for other Mexican low cost airlines like Volaris or Interjet." Cost-cutting efforts over the past several years "have translated into savings of some $800 million as a direct result of investment in IT systems, new routes and more efficient aircraft." And although its operating costs, excluding crew labor costs "are 30% lower than the average of legacy airlines in the United States, these non-competitive labor costs are the main reason why the company has continued to suffer losses, to the extent that it is now financially non-viable."
In response, MX said it has "presented its pilots' and flight attendants' unions with two alternatives." One would be "a new collective contract … [that] would imply accepting cuts of 41% and 39% in wages and fringe benefits for pilots and flight attendants respectively." This proposal would also call for "additional cost-cutting measures including downsizing 40% of the airline's pilots and flight attendants."
The second option is an offer by MX management and its stockholders to sell the airline "to its unions for the token sum of 1 peso." It said this "would require further and more detailed negotiations with the unions, but in broad terms would require [the workers] to assume liabilities of $120 million in bank credit lines." Under the plan, the unions would get "a six-month permit for the use of the Mexicana Airlines brand name," the airline said.
It said its unions indicated that both proposals "would be rejected." MX urged its workers "to acknowledge reality…the paradigm of commercial aviation has changed worldwide." It said it will "continue to negotiate" with the workers.
ARC reported that "Mexicana Airlines stated it expects to continue to operate flights and customer programs without interruption…ARC will continue processing Mexicana-validated transactions, including sales, refunds and exchanges, without interruption."
Prego gli amministratori di fondere questo thread con quello precedente riguardo il Messico e MX se lo ritengono opportuno.
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Mexicana files for creditors' protection in Mexico, US; seeks labor concessions
Created 2010-08-03 17:14
By Aaron Karp
Mexicana Airlines filed for protection from creditors in Mexico and the US late Monday, conceding in a statement that its "financial and labor situation is no longer sustainable."
It said it filed a "voluntary petition to commence a case under the Mexican Business Reorganization Act" and has also filed for Chapter 15 bankruptcy protection in the US. Most of the aircraft operated by the airline are leased and court protection is needed to prevent the seizing of those assets.
The company said it plans to continue operations with only "minor adjustments” (ATW Daily News, Aug. 3 [2]) adding that the filings "will in no way affect the operations, flights or itineraries of MexicanaClick and MexicanaLink." Despite being subsidiaries of MX, "these airlines operate under completely different business models," the airline stated.
MX asserted its labor costs are sinking it, claiming that its pilots earn 49% more than the "average wage" paid by US legacy airlines and "185% more than the average pilots flying A320s for other Mexican low cost airlines like Volaris or Interjet." Cost-cutting efforts over the past several years "have translated into savings of some $800 million as a direct result of investment in IT systems, new routes and more efficient aircraft." And although its operating costs, excluding crew labor costs "are 30% lower than the average of legacy airlines in the United States, these non-competitive labor costs are the main reason why the company has continued to suffer losses, to the extent that it is now financially non-viable."
In response, MX said it has "presented its pilots' and flight attendants' unions with two alternatives." One would be "a new collective contract … [that] would imply accepting cuts of 41% and 39% in wages and fringe benefits for pilots and flight attendants respectively." This proposal would also call for "additional cost-cutting measures including downsizing 40% of the airline's pilots and flight attendants."
The second option is an offer by MX management and its stockholders to sell the airline "to its unions for the token sum of 1 peso." It said this "would require further and more detailed negotiations with the unions, but in broad terms would require [the workers] to assume liabilities of $120 million in bank credit lines." Under the plan, the unions would get "a six-month permit for the use of the Mexicana Airlines brand name," the airline said.
It said its unions indicated that both proposals "would be rejected." MX urged its workers "to acknowledge reality…the paradigm of commercial aviation has changed worldwide." It said it will "continue to negotiate" with the workers.
ARC reported that "Mexicana Airlines stated it expects to continue to operate flights and customer programs without interruption…ARC will continue processing Mexicana-validated transactions, including sales, refunds and exchanges, without interruption."
