Attempts to revive Mexicana de Aviacion from bankruptcy protection are looking unlikely to succeed as subsequent bids fail. The airline’s current bankruptcy protection ends on June 30 – this has already been extended by 90 days – a second request is not expected to be made. The most recent bid to finance a $250 million buy out by TG Group collapsed last week after the consortium failed to prove it has sufficient funds. An earlier bid by PC Capital also failed due to insufficient funding The final two bidders are Ivan Barona and Avanza Capital, who have both already proved
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