Mexico: Airlines group draws back support for Aeroméxico before a COFECE fine

Mexico’s National Chamber of Airlines (Canaero), an airline industry group which includes all major airlines operating in the country, has announced it will not publicly support Aeromexico before the fine imposed by the Federal Commission for Economic Competition (COFECE) in the coming days as a result of an alleged price fixing scheme.

Sources of Cofece say that the fine is already under way and that will likely lie in the millions-of-dollars range.The regulator can set fines for values up to 10% of the company’s profits for the period under investigation.

Aeromexico is preparing to file an appeal. However, the airline faces a complicated outlook due to the beginning of the presidential electoral process in Mexico.

Full Content: La Politica Online

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