Mexican airline Interjet to boost domestic flights

MEXICO CITY (Reuters) – Mexican airline Interjet said on Sunday it will increase the number of routes and frequency of its domestic flights starting in September, including boosting travel options to the country’s northern states and popular tourist destinations. Interjet, one of Mexico’s three biggest airlines with a portfolio of more than 50 routes, said it will enforce health and […]

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Aeromexico to review fleet obligations -court document

MEXICO CITY, Aug 5 (Reuters) – Mexican airline Aeromexico aims to review obligations on its fleet of aircraft and use aviation industry restructuring adviser SkyWorks Capital for that purpose, according to a court document. In a submission to the U.S. Bankruptcy Court for the Southern District of New York, Aeromexico sought permission to retain SkyWorks during the Chapter 11 bankruptcy […]

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Exclusive: Mexico eager to lure firms from Asia under new trade deal

MEXICO CITY (Reuters) – Mexico has spoken to a host of foreign companies, particularly steelmakers, in an effort to lure business from Asia to capitalize on a new North American trade deal, Economy Minister Graciela Marquez said on Monday. The U.S.-Mexico-Canada trade agreement (USMCA) took effect at the beginning of this month and replaced its quarter-century-old predecessor as the coronavirus […]

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Mexico's Pemex plans $22.4 billion debt swap

MEXICO CITY (Reuters) – Mexico’s Petroleos Mexicanos said on Tuesday it will offer a swap for $22.4 billion worth of bonds maturing between 2027 and 2060 as the state oil firm seeks to manage its massive debt load. The company, known as Pemex, which had financial debts of nearly $105 billion at the end of March, announced the swap in […]

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UPDATE 1-Mexico inflation above forecasts, rate cut still expected

(Recasts story, adds economist’s comments, background details) MEXICO CITY, June 24 (Reuters) – Mexican inflation rose more than expected during the first half of June, data from the national statistics agency showed on Wednesday, though the central bank is still seen cutting its benchmark interest rate again on Thursday. Consumer prices rose 3.17% in the year through the first half […]

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Mexico car exports, production plunged in May during pandemic

MEXICO CITY, June 5 (Reuters) – Mexico auto production and exports again dropped sharply in May, data from the national statistics agency showed on Friday, as measures to contain the spread of coronavirus kept car manufacturing plants shuttered and consumer demand weak. Production plunged 93.7% in May from a year earlier to 22,119 units, while exports fell 95.1% to 15,088 […]

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Mexico's president revs up car industry, and wider economy

MEXICO CITY (Reuters) – President Andres Manuel Lopez Obrador will lay out a roadmap on Wednesday for Mexico to re-open its economy, with a focus on the automotive sector whose supply chains are closely interwoven with U.S. carmakers. The U.S. government and automotive companies have called on Mexico to reopen factories serving the U.S. market, despite the Latin American nation […]

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UPDATE 1-Moody's cuts Mexico 2020 GDP forecast to -7%

(Adds details) MEXICO CITY, May 4 (Reuters) – Credit rating agency Moody’s Investors Services said on Monday that it had revised down its forecast for Mexico’s economic performance in 2020 to a contraction in gross domestic product (GDP) of 7% from a contraction of 3.7% previously. “While the coronavirus outbreak represents a large and negative shock to the economy, weak […]

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Bottleneck of fuel tankers grows at Mexico's ports: data

MEXICO CITY (Reuters) – More than 20 vessels loaded with fuel have waited a week or more to discharge gasoline, jet fuel, diesel and liquefied petroleum gas at Mexico’s ports, according to Refinitiv Eikon data, as demand craters due to coronavirus-related lockdowns. Mexico imports most of its fuel and has very limited storage capacity. State oil company Pemex and about […]

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