Skip to main content

The Globe and Mail

Mexican interests launch new airline, Vuela

Mexican billionaire Carlos Slim and leading broadcaster Grupo Televisa SA are joining forces in a new low-cost airline as the government sells off the country's largest carriers and opens the industry to competition. Mr. Slim's investment unit, Sinca Inbursa, and Televisa said yesterday they will each take a 25-per-cent stake in Vuela, the new airline. The other partners are El Salvador-based airline Grupo Taca and investment fund Discovery Americas I, in which former Mexican Finance Minister Pedro Aspe plays a leading role. Each also would have a 25-per-cent stake. The partners will invest a total of $100-million (U.S.) in Vuela, which already has a concession to operate and expects to begin flights in the first half of next year from the international airport in Toluca, west of Mexico City. Mexico's government is privatizing top carriers Mexicana and Aeromexico. TLEVICPO (Mexico) fell 36 centavos to 35.51 pesos. Reuters

Report an error
Comments

The Globe invites you to share your views. Please stay on topic and be respectful to everyone. For more information on our commenting policies and how our community-based moderation works, please read our Community Guidelines and our Terms and Conditions.

We’ve made some technical updates to our commenting software. If you are experiencing any issues posting comments, simply log out and log back in.

Discussion loading… ✨

Combined Shape Created with Sketch.

Combined Shape Created with Sketch.

Thank you!

You are now subscribed to the newsletter at

You can unsubscribe from this newsletter or Globe promotions at any time by clicking the link at the bottom of the newsletter, or by emailing us at privacy@globeandmail.com.