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Mexicana de Aviacion

Mexican Bank Banorte Net Profit Up 43% In 4Q, 27% In 2011

Mexican bank Grupo Financiero Banorte SAB (GFNORTE.MX, GBOOY) said Monday its net profit grew 43% on the year in the fourth quarter, and 27% on the year in 2011, aided by the incorporation of niche financial group Ixe.The country's third-largest bank by deposits said it benefited from the inclusion into its results of the Ixe financial group, which Banorte purchased in April for MXN16.2 billion. Banorte showed a net profit of 2.51 billion pesos ($191 million) for the final three months of 2011 and MXN8.52 billion for the full year, with MXN420 million of the full-year gain coming from Ixe.Banorte's banking unit supplied MXN1.71 billion, or 68%, of the company's quarterly profit."The Mexican banking system continues to operate in a challenging environment. Nonetheless, the Mexican economy shows strength and offers great opportunities for the financial sector due to a low level of banking service use and considerably lower levels of leverage compared with other countries," the bank said ...

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  1. Mexicana needs at least $100 mln to keep flying-CEO

    MEXICO CITY (Reuters) - Debt-ridden airline Mexicana de Aviacion needs a cash injection of at least $100 million to keep flying, the company's chief executive said T...

  2. Union in talks to save troubled Mexican airline

    (Recasts first paragraph with union statement, details on negotiations, company situation, adds byline)By Cyntia Barrera DiazMEXICO CITY (Reuters) - Employees of air...

  3. Mexicana airline stops selling tickets, troubles deepen

    (Recasts adding details on financial troubles, impact on airports, comments from pilot union, Mexicana, byline)By Cyntia Barrera DiazMEXICO CITY (Reuters) - Debt-rid...

  4. Mexican airline Mexicana stops selling tickets

    MEXICO CITY (Reuters) - Troubled Mexicana de Aviacion, which filed for creditor protection in Mexico and the United States this week, said it suspended ticket sales ...

  5. Mexicana seeks creditor protection in Mexico, U.S.

    MEXICO CITY/NEW YORK (Reuters) - Troubled Mexicana de Aviacion has filed for creditor protection in Mexico and the United States after management and employees faile...

  6. Mexicana airline workers, management at impasse

    (Recasts first paragraph, adds CEO comments, details on proposal, bylines)By Cyntia Barrera Diaz and Veronica Gomez SparroweMEXICO CITY (Reuters) - Talks between the...

  7. Mexicana says labor contracts key for survival

    MEXICO CITY (Reuters) - Mexicana de Aviacion, which is considering filing for creditor protection to ease its financial troubles, said the company's survival depends...

  1. Troubled airline Mexicana to shut down Saturday

    * New owners, pilots, attendants seek for investors (adds background on owners, byline)By Cyntia Barrera Diaz and Veronica GomezMEXICO CITY (Reuters) - Mexicana de A...

  2. Mexicana budget airlines Click, Link to shut-gov't

    MEXICO CITY (Reuters) - Mexicana Click and Mexicana Link, two budget airlines affiliated with Mexicana de Aviacion, will shut down along with the debt-ridden company...

  3. Mexicana airline to stop flying Saturday -minister

    MEXICO CITY (Reuters) - Mexicana de Aviacion, one of Mexico's two major airlines, will cease operations by midday on Saturday, Mexico's Transport Minister Juan Molin...

  4. Mexican group buys stake in airline Mexicana-Advent

    MEXICO CITY (Reuters) - A consortium of Mexican businessmen has bought a 95 percent stake in the holding company that controls troubled Mexican airline Mexicana de A...

  5. ADVENT INTERNATIONAL SAYS MEXICAN CONSORTIUM HAS BOUGHT 95 PCT S

    ADVENT INTERNATIONAL SAYS MEXICAN CONSORTIUM HAS BOUGHT 95 PCT STAKE IN HOLDING COMPANY OF TROUBLED AIRLINE MEXICANA DE AVIACION

  6. Advent fund might invest in Mexicana air - reports

    MEXICO CITY (Reuters) - Investment fund Advent International could invest some $49 million into Mexico's Mexicana de Aviacion to keep the airline flying, local media...

  7. Asur says Mexicana airline woes have minimal impact

    MEXICO CITY, (Reuters) - Airport operator Asur has seen only a minimal impact on its operations since news broke last month of airline Mexicana de Aviacion's financi...

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