SOURCE: Mexicana Airlines

July 10, 2007 16:08 ET

Organizational Changes at Mexicana Airlines

MEXICO CITY--(Marketwire - July 10, 2007) - Pursuant to the Strategic Business Plan mapped out following the acquisition of Mexicana Airlines, the company's board of directors has decided to appoint Manuel Borja Chico, formerly Chief Financial Officer, as the airline's new CEO.

This decision is consistent with the structural changes that are being introduced with the objective to strengthen the airline and set forth specific growth and expansion targets.

In light of the rapidly changing environment of the commercial airline industry, coupled with increased competition, Mexicana requires strong, experienced leadership capable of implementing restructuring initiatives and consolidating this process with the aid of a results-based approach that generates greater cash flows and guarantees solid growth, the long-term objective being to position the company as the number one airline in Mexico.

"The 18-month period of stable, ordered transition following the acquisition of the company that we agreed would be spearheaded by Emilio Romano has come to an end. This change in upper management is intended to meet the challenges of a highly competitive market and create greater value for our clients and stockholders," said Gastón Azcárraga, chairman of Mexicana's board of directors.

"We would like to thank Emilio Romano for his decisive style of management that, together with the input of an outstanding group of collaborators, made it possible to reposition Mexicana as one of the top airlines in the world," he added.

Manuel Borja, who had been collaborating with Grupo Posadas for more than ten years, will be assuming his new position on July 16. Gerardo Barrera Segura, currently Corporate Finances VP, will be taking over as Chief Financial Officer, while Isaac Volin Bolok has been appointed Corporate Commercial VP and will continue to serve as CEO of Click Mexicana.

Gastón Azcárraga said he is confident that the experience, result-based approach, commitment and clear profitability drive of Manuel Borja will be key factors to ensure the company's viability.

About Mexicana de Aviación

Mexicana de Aviación began its operations almost 86 years ago and it is therefore the airline with the fourth longest tradition in the world. Currently, it is the airline with the most extensive international coverage from Mexico and the leading transportation company between Mexico and the United States. From its operation hub in Mexico City International Airport, Mexicana flies to around 50 destinations in North, Central, and South America and the Caribbean. Its code share agreements with leading international airlines, represents a great benefit for its passengers with the accumulation and redemption of miles, access to its executive lounges, a range of connection possibilities and coordinated schedules with an extensive route network that covers a large portion of the world. Having the most modern fleet in the world has allowed it to maintain one of the highest on time performance levels, and enabled it to reach the highest utilization rate of its Airbus fleet, with an average daily operation of 12:52 hours. Mexicana has the best maintenance base in Latin America. And for the second consecutive time its been recognized with the World Travel Awards 2006 as the best Business Class in Mexico and Latin America, in addition to receiving the award as the leading airline for ninth consecutive years in the same region. On July 1st, 2005, Mexicana launched its low-cost airline, Click Mexicana, which offers the most competitive fares. Click serves 26 domestic routes and its fleet is comprised of 17 Fokker 100 aircraft with state-of-the-art equipment with the most advanced technology available in the industry. For more information visit: www.mexicana.com and www.clickmx.com

Contact Information

  • For further information, please contact:

    Mr. Adolfo Crespo y Vivó
    Customer Services & Corporate Communications Director

    Diana Ocampo
    Public Relations Manager
    Tel. 5448-3155
    E-mail. Email Contact

    Mariana Díaz-Mercado R.G.
    Tel. 5448-3000 Ext. 3731
    E-mail. Email Contact

    Theresa Bravo
    Public Relations & Customer Service Manager
    USA - Canada
    310 258-0395
    Email Contact