Before it stopped flying in 2010 because of financial problems, Mexicana was among the world’s oldest continually operating airlines.
Mexicana began flying in 1921, after carriers like Australia’s Qantas and Colombia’s Avianca.
Mexico’s Federal Judiciary Council said Friday the decision means an administrator will be appointed to start selling off the privately owned company’s assets to repay creditors.
The flight attendants’ union said it will appeal the decision, which follows a torturous four-year bankruptcy proceeding.
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