Mexicana Airline Gets Loan for Expansion: Mexico’s...
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From Times Staff and Wire Reports
Mexicana Airline Gets Loan for Expansion: Mexico’s largest airline received an $80-million loan for expansion from Chase Manhattan Bank. The loan to Mexicana Airlines is the first major voluntary credit from a U.S. bank to a Mexican corporation since the Third World debt crisis began in 1982. Private investors--including Chase, which owns 8% of Mexicana--bought the airline from the government over a year ago and have launched an ambitious expansion program, including the purchase of up to 50 Airbus A320 mid-range planes over the next 10 years.
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