MEXICO CITY, Jul 3, 2001
Mexican No. 2 airline Mexicana on Monday said seven new Airbus aircraft it plans to lease from the French consortium would be used to replace aging planes rather than to expand its fleet, according to a report in Mexico City daily Reforma. Mexicana CEO Fernando Flores said the company currently was close to signing a long-term leasing agreement on the Airbus aircraft, Reforma business columnist Dario Celis Estrada reported. Flores said replacement of old aircraft could see Mexicana cut its operating costs by up to 25 percent, according to the report. The forthcoming deal with Airbus will allow Mexicana to offload seven Boeing 727 aircraft, all of which are more than 20 years old. A further 20 Boeing 727 planes likely will replaced or decommissioned by Mexicana by December 2002, according to the report. At the same time, Mexicana reportedly plans to reduce its total fleet by three aircraft. Mexicana is controlled by airline holding company Cintra (BMV:CINTRA), which is majority-owned by the Mexican government.
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