The purchase of the brand is made possible by representatives of the airline’s retirees and the pilot and flight attendant unions giving the go-ahead, but pricing the brand has become the biggest hurdle.
How much is Mexicana de Aviacion worth?
Fausto Guerrero, president of the Association of Retirees, Workers and Ex-Workers of the Mexican Aviation, refers that several valuations have been carried out, and the last one -in 2017- located his value at 75 million dollars.
“The brand will be put up for sale, the government buys it, and once the brand is bought and the price is settled, it is free of liens,” says the representative.
On the one hand, the value of the Mexicana de Aviación brand has been depreciating over the years. According to a valuation carried out in 2015, the brand had a value of 135 million dollarsimplying that over the course of the next two years it lost $60 million in value.
Despite this, a hypothetical new value would have to take into account other factors, such as the exit of the second largest player from the market until a few years ago: Interjet. “At this moment, any company that uses the brand would have 11% more market share due to the acceptance it has from the public,” Guerrero said.
This is not the first attempt to sell the Mexicana brand and other airline assets to the federal government.
Previously, the company’s former employees showed their intention to sell some assets such as the MRO maintenance center and the two audited facilities that it has in the AICM.
In addition, they promoted reviving the airline through a cooperative scheme hand in hand with the workers – which was rejected by more than 90% of the staff – and even with the government as an investor.