Mexicana to stop flying

All operations will shut down tonight because the airline doesn't have enough money to keep flying. Last week a group of investors announced that it had bought a 95 percent stake in the holding company that controls Mexicana and the domestic airlines Mexicana Click and Mexicana Link. Mexicana's pilot union had agreed to concessions in exchange for 5 percent of the airline, but the investors couldn't work out a compromise with flight attendants. Now, they're apparently seeking additional capital. Mexicana had been running 15 flights out of LAX, although four of those were suspended when the carrier started running into money problems.

Bit of history: In 1947, Mexicana was the first international carrier to fly out of what was then called Los Angeles Municipal Airport, with DC-2 and DC-3 service.