Reports are now flooding the net about a private consortium of Mexican businessmen that have bought some 95 percent stake in the holding company that controls Mexicana Airlines. This is a deal that will secure the future of this troubled airline.

The United States private equity group, Advent International, arranged the acquisition for the consortium. Right now the consortium is being called Tenedora K.

Apparently the consortium bought some 95 percent of Nuevo Grupo Aeronautico. This is the same company that controls Mexicana, as well as domestic airlines Mexicana Link and Mexicana Click. Advent International pointed out that they did not invest in the deal.

For those that do not know, Mexicana is one of Mexico’s two major airlines. It is the third longest serving airline in the world. It has cut more than a dozen international routes and has stopped selling tickets. This happened just after the airline had to file for creditor protection earlier last month.

A statement that was just recently released said that Tenedora K is a company that has been formed by a group of Mexican businessmen as a vehicle to capitalize on the mentioned airlines. Their aim is to rescue them from the critical financial and operating situations that they are currently in.

Currently Grupo Industrial Omega and Grupo Arizan are among the shareholders of Tendora K. Mexican hotel operator, Grupo Posadas did confirm, as of last Friday, that it had sold about 30 percent of its shares in Nuevo Grupo Aeronautico. According to the statement, the remaining 5 percent of the holding company is held by the pilots union.