Foreign airlines to expand investment
The modification to the Foreign Investment Act in the air sector increased the maximum participation to 49% and will enable companies advance their growth plans, including those for receiving foreign capital. Aeromexico will succeed in selling to Delta up to 49% of its circulating stock shares. This modification will permit Aeromar the acquisition of up to 49% of the Mexican firm’s titles by Synergy Aerospace Group. The first stage of investment was announced last November to include the purchase of 25% of the Aeromar stock shares plus a US$100 million investment. Interjet started a codeshare agreement with American Airlines.