By KELIN DILLON
As the Mexican government prepares to revive defunct national airline Mexicana de Aviación to service Mexico once more, the project has already exceeded its proposed budget by an additional 100 million pesos.
The venture would see 40 percent sponsorship by the Mexican government and another 40 percent in funding from private investors, which will now need to increase in tandem with the latest budgetary expansion.
The last 20 percent is set to be provided by CEO of Altán Redes Salvador Álvarez, who President Andrés Manuel López Obrador (AMLO) put in charge of spearheading Mexicana de Aviación’s revitalization.
Mexico is expected to use Mexicana de Aviación as a counteraction against the recent blows given to the country’s airspace by the U.S. Federal Aviation Administration (FAA), which limits flights into the United States by Mexican airlines.