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Mexico: stop at the airport, 4.2 billion sought

Works at the airport blocked by President Obrador, who wants to buy back bonds

Mexico's Government could buy back some 4.2 billion dollars of bonds issued to finance construction of a new airport in Mexico City, on which construction had begun before the project was shelved altogether. The airport had the aim of relieving the pressure of cargo and passenger traffic on the capital's "Benito Juárez" international airport hub. Repurchased 1.8 billion dollars out of a total of 6 billion to date. 

The reacquisition of the bonds "is a possibility" said the deputy minister of transport, Rogelio Jimenez Pons, announcing possible talks with the bondholders. It is an issue that "must be resolved immediately. I think the most important thing is to give bondholders the certainty that Mexico will fulfill the obligations it has with them". 

After being elected in 2018, Mexican President Andres Manuel Lopez Obrador demolished the partially built airport started by his predecessor, calling it corrupt and too expensive. Alternatively, Obrador had a military base transformed into a commercial airport hub, opening the "Felipe Angeles" international airport in 2022, located in the northern suburbs of Mexico City.

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AVIONEWS - World Aeronautical Press Agency