One of the world's oldest airlines, Mexicana - founded in 1921 - has today filed for bankruptcy; over the past few days, at least three of the airline's aircraft have been repossessed and the airline's CEO has said that unless swingeing cuts are made to the airline's workforce and salaries, the company is no longer viable:
Mexicana airlines files for bankruptcy - Business - U.S. business - Aviation - msnbc.com