On a winter evening at the Ciudad Juárez golf club on the
US-Mexican border, the champagne corks are popping. At a gathering
of travel agents and business executives Mexican airline start-up
Lineas Aereas Azteca is celebrating the opening of its route to the
northern Mexican city and the unveiling of its fourth aircraft, a
Boeing 737-700.
The scene is so lavish you would not know the Mexican airline
industry is facing its worst crisis in years or that the Mexican
economy is in recession. In the face of plummeting demand, Mexico's
airlines have been kept flying largely thanks to a $100 million
government aid package. But in a sign of Mexico's economic
resilience, Azteca is embarking on a highly ambitious expansion
drive, even if at the outset that means half-empty flights.
By as early as the end of next year Azteca aims to increase its
share of the 18 million-strong...
