Mexicana and low-cost carriers MexicanaClick and Mexicana Link suspended operations Saturday until further notice.
In a statement, parent company Grupo Mexicana said, "Today's decision is a painful one for the 8,000-strong Grupo Mexicana family, but we will continue seeking out ways of securing the company's long-term financial viability, so our passengers can once again enjoy the quality services they are accustomed to.
"We hope to be back in the air soon and would like to thank everyone involved in this process for their support and understanding."
A group of Mexican businessmen purchased 95% of Grupo Mexicana last week, with the pilots owning the rest. The new ownership group, called Tenedora K, did not inject capital into the carrier.
Mexicana filed for bankruptcy on Aug. 3.
