New Mexicana owner is not sure the airline can surviveBy Michael Fabey

Insolvent Mexicana Airlines last week secured a new owner, albeit one that offered no guarantee the airline has a future.

Tenedora K,
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Alejandro Rodriguez, a former Mexican bank director, was named Mexicana’s chief administrator.

But Tenedora K’s first order of business after naming Rodriguez was to issue a warning that unless some type of structure shaking agreement could be reached with flight attendants,
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Late last week, Mexico’s labor minister, Javier Lozano,
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While Mexicana’s situation is in many ways unique, analysts and other aviation experts said this case demonstrates how difficult it has become for network airlines,
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"This is just what’s happening with state run airlines," said Raphael Bejar, CEO of AirSavings, a consultancy group for airlines. "With Mexicana,
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Time is definitely not on Mexicana’s side. bankruptcy court,
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"As time passes, the prospects of recovering the operation diminish proportionately,
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Even so,
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What it will come down to,
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The investment group, according to the center and Mexican media reports,
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A common link in these groups is Andres Rozental, a board member on each of the group’s member companies and a person known to be close to Mexico President Felipe Calderon, the center reported.

The airline’s new chief administrator,
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Tenedora K’s partner,
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Despite the corporate and legal firepower being amassed for Mexicana, the new owner made it clear that the airline’s immediate survival will depend on what kind of settlement it can reach with flight attendants.

Tenedora K said last week it had made a "historic" agreement with the pilots to help make the Mexicana acquisition possible,
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Tenedora K’s solution, it was widely reported in Mexico last week, was to lay off all flight attendants and then hire back about one quarter of them.

As might be expected,
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While Tenedora K may be using the layoff plan as a bargaining chip, some observers said it offers a glimpse of what the investment group believes the future holds for the airline.

"This could be a negotiating position," the center said. "But if it does reflect the likely downsizing of Mexicana,
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The attendants, though,
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Cheap Retro Jordan Low 11 Bred Gs, secured the protection of a very strong ally in the person of Labor Minister Lozano, who last week on Mexico’s Radio Formula station termed the layoff plan "illegal," said Tenedora K had failed to offer a business plan and wondered if the investment group could really save the airline.

Still,
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"This provides them a new lease on life,
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