Owner of Troubled Airline Arrested in Mexico on Fraud Charges
(Bloomberg) -- The owner of troubled Mexican airline Interjet, Alejandro del Valle, was detained by authorities on Thursday on fraud charges at a posh Mexico City business center.
Del Valle was detained due to his participation as a co-signer on debt from non-bank lender Credito Real, according to spokesmen for the Mexico City attorney general and Del Valle.
Credito Real, which has been hit by concerns about its accounting after the disclosure of some big delinquent loans from its small business portfolio, didn’t immediately respond to a request for comment.
Del Valle, wearing a dark suit and making calls on his cellphone, was booked at a jail in the southern part of the capital, images shared by reporter Carlos Jimenez showed.
A relatively little known businessman, Del Valle took a stake of 90% in Interjet last year and committed to inject $150 million into the ailing company, which was already facing serious financial issues before his arrival. Previous Interjet owner Miguel Aleman Magnani fled to France earlier this year to fend off an arrest warrant in Mexico on tax fraud charges.
Interjet has been considering a return to the skies after adviser Argoss Partners submitted a plan in July to the airline’s management that included debt forgiveness of over 90%, partial payment to workers and preliminary deals for new aircraft leases.
Interjet spokesman Carlos Del Valle said Thursday that the company has brought on board a new adviser to help it resume operations by December. The new company will use portions of Argoss’s plan.
“We are in advanced talks with investors,” the spokesman said.
©2021 Bloomberg L.P.