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☆ U.S. raises Mexico air safety rating in boost for country's airlines
▼ + stars: | 2023-09-14 | by ( ) www.cnbc.com time to read: +2 min

An Aeromexico airplane prepares to land on the airstrip at Benito Juarez international airport in Mexico City, Mexico. The Federal Aviation Administration (FAA) said on Thursday it has upgraded Mexico's air safety rating, a move that will allow Mexican carriers to expand U.S. routes and add new service. The downgrade was a major blow to Mexico carriers, as U.S. airlines were able to scoop up market share. Mexico overhauled its civil aviation law, but faced several hurdles and spent years in recovering the Category 1 rating. The return of Mexico to the highest aviation safety rating followed "more than two years of close work between the countries' civil aviation authorities," the FAA said in a statement.

Persons: Jorge Nuno, Aeromexico Organizations: Benito Juarez, Federal Aviation Administration, FAA, Reuters, Airlines, U.S, Mexico's, Local Locations: Mexico City, Mexico, U.S, Canada

☆ US raises Mexico air safety rating in boost for country's airlines
▼ + stars: | 2023-09-14 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

A view shows an area of the Felipe Angeles International airport, in Zumpango, on the outskirts of Mexico City, Mexico August 25, 2022. Mexico was downgraded by the U.S. regulator in May 2021 after the agency found the country did not meet safety standards. The downgrade was a major blow to Mexico carriers, as U.S. airlines were able to scoop up market share. Mexico overhauled its civil aviation law, but faced several hurdles and spent years in recovering the Category 1 rating. The return of Mexico to the highest aviation safety rating followed "more than two years of close work between the countries' civil aviation authorities," the FAA said in a statement.

Persons: Henry Romero, Jorge Nuno, Aeromexico, David Shepardson, Valentine Hilaire, Kylie Madry, Aurora Ellis, Richard Chang, Marguerita Choy Organizations: Felipe Angeles International, REUTERS, Rights, Federal Aviation Administration, FAA, Reuters, Airlines, U.S, Mexico's, Local, Thomson Locations: Zumpango, Mexico City, Mexico, U.S, Canada

Reuters first reported the planned cuts on Wednesday, citing an internal government document. Airport authorities met with airline representatives later on Thursday, but did not say how the flight reductions will be distributed among carriers, according to a source with knowledge of the meeting. Instead, airport officials would present the methodology for distributing the cuts in a future meeting, the source added. A representative for the airport confirmed the meeting occurred, but did not explain how it planned to divvy up the cuts. Mexico's top three carriers, Aeromexico, Volaris and Viva Aerobus, all also criticized the cuts in separate statements.

Persons: Luis Cortes, Andres Manuel Lopez Obrador, Lopez Obrador, Peter Cerda, Aerobus, Aeromexico, Volaris, Felipe, Kylie Madry, Cassandra Garrison, Raul Cortes, Bill Berkrot, Stephen Coates Organizations: Benito Juarez International, REUTERS, MEXICO CITY, Mexico City International, International Air Transport Association, Reuters, Aerobus, Felipe Angeles International Airport, Thomson Locations: Mexico City, Mexico, MEXICO, Latin America

☆ Cramer's Lightning Round: Don't touch ChargePoint
▼ + stars: | 2023-08-15 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Stock Chart Icon Stock chart icon Opendoor's year-to-date stock performance. Stock Chart Icon Stock chart icon Nextera Energy's year-to-date stock performance. Stock Chart Icon Stock chart icon CVS's year-to-date stock performance. Because of shrinkage, because of pilferage, because of those darned plastic things that are like in front of every single thing you want to buy..."Stock Chart Icon Stock chart icon ChargePoint's year-to-date stock performance. Stock Chart Icon Stock chart icon Volaris' year-to-date stock performance.

Persons: Nextera, it's, I'm, ChargePoint's, Volaris, I've Organizations: Nextera Locations: Mexico

MEXICO CITY, July 5 (Reuters) - Mexican airline Viva Aerobus has signed a memorandum of understanding to purchase 90 Airbus A321neo aircraft, the carrier said on Wednesday, in a deal likely worth several billion dollars. The companies did not name a price for the aircraft, and Airbus no longer publishes catalog prices. The agreement brings Viva's order book up to 170 Airbus aircraft, the carrier said in a statement, all part of the A320 family. In April, Viva signed an agreement with SAF producer Neste (NESTE.HE) to purchase 1 million liters of the fuel. Viva said the aircraft order would drive both domestic and international growth plans, taking into account that Mexico is expected to recover a U.S. air safety rating in coming months.

Persons: Pratt, Whitney, Viva, Neste, Aeromexico, Volaris, Kylie Madry, Raul Cortes, Tim Hepher, Bill Berkrot Organizations: MEXICO CITY, Viva Aerobus, Airbus, Paris Airshow, Whitney, Pratt, SAF, U.S . Federal Aviation Administration, U.S, Allegiant, Thomson Locations: MEXICO, Mexico, U.S

☆ Factbox: World's largest commercial jet purchase orders by number of aircraft
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: +3 min

[1/2] An IndiGo Airlines Airbus A320 aircraft is pictured parked at a gate at Mumbai's Chhatrapathi Shivaji International Airport February 3, 2013. INDIGO - 500 JETS - 2023IndiGo on Monday agreed to buy 500 single-aisle jets from Airbus, making it the single largest order of any aircraft. The Tata-owned airline's order comprises 400 narrowbody and 70 widebody planes. AMERICAN AIRLINES - 460 JETS - 2011American Airlines (AAL.O) in 2011 placed orders with Airbus and Boeing for a total of 460 airliners. INDIGO - 250 JETS - 2015India's biggest airline in 2015 finalised an order for 250 Airbus A320neo aircraft.

Persons: Vivek Prakash, Volaris Organizations: IndiGo Airlines Airbus, Shivaji, REUTERS, Airbus, Air, JETS, AIR, India, Boeing, Tata, AMERICAN AIRLINES, Airlines, INDIGO, Indigo Partners, Frontier Airlines, Airbus A320neo, UNITED AIRLINES, United Airlines, Thomson Locations: BENGALURU, India's, Air India, Europe, Southeast Asia, India, U.S

The FAA downgraded Mexico's aviation safety rating to Category 2 in 2021, citing safety deficiencies and blocking Mexican carriers from adding new U.S. flights. Since Mexico lost the rating, the FAA has conducted a series of audits on the local civil aviation authority and its compliance with international safety standards. Mexican newspaper El Financiero had earlier reported that Mexico had already recovered the safety rating, citing government sources, but a short time later backtracked on the initial report. In the two years since the FAA dropped Mexico to Category 2, the country has revamped its aviation standards, replacing officials and most recently overhauling its civil aviation law. Asked to comment on Mexico's air safety rating, an FAA spokesperson would only say the agency continues "to provide assistance to Mexico's civil aviation authority."

Persons: El Financiero, Andres Conesa, Kylie Madry, Adriana Barrera, Carolina Pulice, Ana Isabel Martinez, Brendan O'Boyle, David Alire Garcia, Diane Craft Organizations: MEXICO CITY, U.S . Federal Aviation Administration, FAA, El, U.S, Thomson Locations: MEXICO, Mexico, United States

MEXICO CITY, April 13 (Reuters) - The airport operating business in Mexico is thriving as traffic surges due to multinational companies bringing overseas operations closer to home and growth at Mexican airlines, according to the head of GAP, which operates 12 airports in the country. Manufacturing hubs such as Guadalajara have seen record traffic growth due to the relocation trend, called nearshoring, CEO Raul Revuelta told Reuters in an interview late Wednesday. "But it's also Mexican airlines, VivaAerobus, Volaris, Aeromexico, expanding their fleets, which allows them to open new routes and move more passengers." The downgrade has prevented Mexican airlines from opening new routes to the United States, limiting expansion plans. The passage of a proposed aviation reform by Mexico's Congress will be an important step, he added.

☆ Mexican stocks are on fire this year. Here's what's driving the gains
▼ + stars: | 2023-03-12 | by ( Alex Harring | ) www.cnbc.com time to read: +6 min

Closer supply chains to the U.S. are giving Mexican stocks a big boost to start the year. The iShares MSCI Mexico ETF (EWW) , which is made up of Mexican stocks, is performing even better — up 15.2%. EWW YTD mountain EWW in 2023 One key factor driving this early outperformance is "nearshoring," which refers to companies bringing supply chains closer to their home country. In this case, many U.S.-based companies are moving their supply chains to neighboring Mexico, which could lead to even more gains in Mexican stocks. Lippmann said the firm likes stocks directly helped by nearshoring trends, such as the real-estate firm Vesta and airport operator OMA .

☆ Mexican airline Volaris hopeful Mexico recovers Category 1 safety rating in next six months
▼ + stars: | 2023-02-22 | by ( ) www.reuters.com time to read: +1 min

MEXICO CITY, Feb 22 (Reuters) - Mexican low-cost carrier Volaris is "optimistic" the country will recover the coveted Category 1 safety rating, which allows airlines to open new routes to the United States, in the next six months, the airline's chief executive said on Wednesday. Mexico was downgraded in May 2021 by the U.S. Federal Aviation Administration, which argued that the country fell short of regulation airlines in accordance with international safety standards. Since then, the FAA has made a number of visits to Mexico, even establishing an office in the country in December. Mexico has proposed reforming its aviation laws, although the most significant proposals remain stuck in Congress. One such proposal would allow "cabotage," a rare practice allowing foreign carriers to open domestic routes in the country.

☆ Volaris sees Mexico regaining aviation rating by end of next year
▼ + stars: | 2022-12-06 | by ( ) www.reuters.com time to read: +1 min

MEXICO CITY, Dec 6 (Reuters) - Mexican low-cost airline Volaris (VOLARA.MX) expects the country to regain its U.S. aviation rating by the last quarter of 2023, it said in a presentation published ahead of its investors' day on Tuesday. The airline said in the presentation it had planning in place to move should Mexico recover the U.S.-issued Category 1 rating earlier, noting that Mexican government authorities had forecast that it could recover the rating as soon as April. The U.S. Federal Aviation Administration (FAA) downgraded Mexico's aviation safety rating in May 2021, saying it fell short of regulating its air carriers "in accordance with minimum international safety standards." The move bars Mexican carriers from adding new U.S. flights and limits the ability of airlines to carry out marketing agreements with one another. In October, Mexico's foreign ministry said it aimed to complete an action plan in December as part of its bid to recover the rating.

☆ Volaris expects Mexico to regain aviation rating by Q4 2023
▼ + stars: | 2022-12-06 | by ( ) www.reuters.com time to read: 1 min

MEXICO CITY, Oct 28 (Reuters) - Mexico is making progress towards recovering its Category 1 aviation rating, but the U.S. Federal Aviation Administration (FAA) has not yet approved its plan as claimed earlier by the Mexican government, a source familiar with the matter told Reuters on Friday. Mexico's foreign ministry said earlier in a statement that U.S. authorities approved Mexico's government plan to recover its Category 1 aviation rating, revoked roughly a year and a half ago. Mexico expects to complete its action plan in December as part of its bid to recover the U.S.-issued aviation rating, the statement said. It added the FAA will visit Mexico and set a final audit date in January, in order to recover the Category 1 status before mid-2023. The FAA downgraded Mexico's aviation safety rating in May 2021, saying it fell short of regulating its air carriers "in accordance with minimum international safety standards."

☆ Boeing sees LatAm air travel taking off as regulations ease, incomes rise
▼ + stars: | 2022-10-11 | by ( Kylie Madry | ) www.reuters.com time to read: +2 min

MEXICO CITY, Oct 11 (Reuters) - U.S. planemaker Boeing Co (BA.N) sees travel in Latin America ramping up more quickly than in other regions as countries loosen regulations and household incomes rise, the company's regional analyst said on Tuesday. Register now for FREE unlimited access to Reuters.com RegisterFranson said a trend toward looser state control had already helped develop a network of low-cost carriers in the region, adding more routes in Latin America. Airlines across Latin America have added 200 net airport pairs to their networks over the past 10 years, he said. Boeing said it a July report Latin America will need 2,240 new aircraft and will have to train 118,000 new crew members and technicians over the next 20 years to meet growing demand. Register now for FREE unlimited access to Reuters.com RegisterReporting by Kylie Madry; editing by Richard PullinOur Standards: The Thomson Reuters Trust Principles.

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