MEXICO CITY– Mexican media conglom Televisa said Monday it will participate in a new, low-cost airline, Vuelo, with a 25% stake.
Other investors include Sinca Inbursa, a venture fund of mogul Carlos Slim, capital fund Discovery America I and Central American airline Grupo Taca. The company has received regulatory approval and plans to begin flights early in 2006.
Mexico is in the process of selling off state-owned airlines Mexicana and AreoMexico, and the promise of increased competition has sparked plans for other low-cost carries.
Televisa said it expected the new company would become an important advertising vehicle. Of course Televisa will offer the in-flight entertainment.