Bankrupt Mexican Airline Set To Resume Flights

Law360, New York (January 24, 2011, 7:46 PM EST) -- Compania Mexicana de Aviacion SA de CV said Monday that it would resume operations soon now that the bankrupt Mexican airline has obtained creditors' approval for a restructuring agreement.

The airline and Mexican private equity firm PC Capital Partners SAPI de CV have reached an agreement with 50 percent of the company's creditors, required under Mexican law to allow the airline's restructuring to go forward, according to a statement issued Monday by Mexico's Secretary of Labor and Social Welfare and reported by the state news agency...
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