Mexico’s Secretariat of Infrastructure, Communications and Transport (SICT) has suspended the air operator certificate of Magnicharters, effective immediately.
The decision follows the airline's unilateral decision to halt its scheduled flights starting this Saturday, according to expansion.mx.
The Federal Civil Aviation Agency (AFAC) issued the temporary suspension after reviewing the airline's recent operational changes.
AFAC officials identified a lack of financial capacity within the airline, a condition the agency claims could pose a risk to operational safety.
Financial instability triggers audit
Regulatory authorities have been monitoring the carrier's stability for several months.
Since January, AFAC conducted a technical-administrative verification of Magnichermarts in accordance with Article 84 of the Civil Aviation Law, the outlet reported.
This audit uncovered multiple findings that highlighted the airline's precarious financial situation.
Regulatory officials stated that the identified financial gaps could compromise the safety of flight operations.
