Mexican President accuses U.S. aviation firm of breaching contract with state-run airline

  • 📰 YahooFinanceCA
  • ⏱ Reading Time:
  • 36 sec. here
  • 9 min. at publisher
  • 📊 Quality Score:
  • News: 42%
  • Publisher: 63%

Aviation News

Mexico,President,Airline

President Andres Manuel Lopez Obrador accuses SAT Aero Holdings of breaching its contract with Mexicana, the state-run airline. SAT had previously filed a lawsuit against Mexicana, seeking $841 million in damages.

FILE PHOTO: Mexico 's President Andres Manuel Lopez Obrador attends an event to mark the 86th anniversary of the expropriation of foreign oil firms in Mexico City

According to SAT, Mexicana officials failed to pay $5.5 million of aircraft lease deposits, refused to sign documents, went around SAT to directly hire pilots and crew trained by the aviation firm, and failed to obtain licenses needed to import planes to Mexico and operate them."They aren't serious people. They had agreed to deliver the planes by a certain date and they didn't," he said at a press conference.

SAT alleged that Mexicana officials "continually cut the financial legs out from under SAT and its own actions prevented SAT from delivering the planes," while Mexican generals even "threatened" SAT into signing an amendment to the contract.

Mexico President Airline Contract Lawsuit Breach Aviation

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 47. in CA

Canada Latest News, Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Vietnam's vice president becomes interim presidentHANOI, Vietnam (AP) — Vietnam's Vice President Vo Thi Anh Xuan will serve as acting president after the previous president's resignation a year into the...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

President of ArriveCan Contractor Did Not Disclose Conflict of Interest, Says Treasury Board PresidentDavid Yeo, president of Dalian Enterprises, one of the contractors for the ArriveCan application, did not disclose a conflict of interest before working as a public servant at the Department of National Defence (DND), according to Treasury Board President Anita Anand. Yeo's failure to make the required disclosure has raised concerns about a potential conflict of interest. Dalian Enterprises has been suspended from the DND pending an investigation.
Source: TheHillTimes - 🏆 11. / 79 Read more »

Mexican authorities investigate death of eight Chinese migrantsExplore stories from Atlantic Canada.
Source: SaltWire Network - 🏆 45. / 63 Read more »

Mexican tourist city holds Holy Week procession hours after brutal mob killingThe Good Friday Eve religious procession, which dates back centuries in the old Mexican silver-mining town of Taxco, went off as planned Thursday night...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Central American, Mexican Families Mourn The Workers Lost In Baltimore Bridge CollapseThe governments of Mexico, Guatemala, El Salvador and Honduras confirmed that their citizens were among the missing.
Source: HuffPostCanada - 🏆 61. / 53 Read more »

Mexican Peso Reaches 9-Year High as Carry Trade Remains UndimmedMexico’s peso rose to the highest in almost nine years Wednesday, driven by a combination of high interest rates, low volatility and ample liquidity.
Source: BNNBloomberg - 🏆 83. / 50 Read more »