The new airline will operate from Los Cabos Airport and serve a number of major destinations across Mexico. (Señor Air)
Mexico soon will have a new regional airline.
To be based out of Los Cabos International Airport, Señor Air is aiming to offer a luxurious flying experience to major destinations across Mexico.
The airline announced its upcoming opening in a post on social media but did not provide a date when it would begin operations. (Señor Air)
“We’re introducing Señor Air, the new regional airline that offers a first-class service, with personalized attention and details that make the difference,” the company announced on Instagram.
But don’t pack your swim trunks and flippers just yet. Although Señor Air has a live website showing destinations, it’s not yet selling any tickets — although it says that’s coming soon — and it currently has a single Embraer ERJ135 aircraft with 37-passenger capacity.
But the nascent airline has ambitions of connecting Los Cabos with the cities of Guadalajara, Los Mochis, Mexico City, Mazatlán and Puerto Vallarta, offering economy, economy-plus and priority-class tickets, as well as pet travel carrier services, escort services for minors and transfers on ground with the transportation company Cabo Cardinal.
All of these are mentioned as impending on the company’s website.
Executives from the carrier say Señor Air will generate an economic benefit for the region as well as new direct and indirect jobs. And will also eventually connect Mexico’s northwest with the Felipe Ángeles Airport in Mexico City (AIFA).
Volaris is currently the only airline that connects AIFA with the northwest of Mexico, flying to Mexicali, Tijuana and La Paz.
The arrival of the monsoon means heavy rains - a welcome relief after the heat wave that pounded Mexico for several weeks. (Victor Valtierra/Cuartoscuro)
The North American monsoon, also known as the Mexican monsoon, has arrived.
Since late June, the northwestern states of the country have registered rains that surpass 100 millimeters, with downpours expected to continue for the rest of July and August. Unlike rains caused by hurricanes, monsoon rainfall is usually torrential and short-lived.
The monsoon season can bring short but intense showers. (Damián Sánchez/Cuartoscuro)
States like Baja California, Baja California Sur, Chihuahua, Durango, Nayarit, Sinaloa and Sonora are affected by the monsoon, as well as are some northern areas of the Sierra Madre Occidental, Mexico’s longest mountain range, which stretches from northern Jalisco to northern Sonora.
The monsoon affects northwestern Mexico and the southwestern United States each summer. Rainfall during this season represents over half of the annual precipitation for both regions, meaning that if they don’t see rain during the monsoon, they probably won’t get much of it for the rest of the year.
The word monsoon comes from the Arabic word mausim, which means season and refers to a seasonal change in the direction of warm and humid winds between the continent and its surrounding bodies of water. While humid air typically flows outward from land to the ocean, the Mexican monsoon sees winds move inland from the Atlantic and Gulf of Mexico to the east and the Pacific and Gulf of California to the west, converging in the northwest of Mexico.
It causes a drastic change in normal rainfall and temperature conditions in the country, mitigating drought in the northwest while fostering drought in the northeast by absorbing moisture from the Gulf of Mexico.
Some northern states, including Baja California, are expected to face the wettest weather. (Omar Martínez/Cuartoscuro)storms
This year’s monsoon rainfall comes as a relief for the region after a record-breaking heat wave that plagued most of Mexico in June, bringing temperatures as high as 45 C in some parts of the country.
For Tuesday, heavy rains with possible hail and thunderstorms is expected in some parts of Sinaloa, Durango, Chihuahua and Coahuila, while Baja California and Baja California Sur could see cloudy skies and scattered showers.
The draft proposal comes on the heels of the Mexican government imposing a temporary 50% tariff on white corn imports, an attempt to discourage Mexicans from buying GM corn. (Andrea Murcia Monsivais)
The federal government is planning to ban the use of genetically modified (GM) corn in tortillas.
The Health Ministry on Monday published a draft proposal to modify the Official Mexican Standard (NOM) that governs products made from masa, or corn dough.
The proposal is part of an overall federal government effort to stop Mexicans from eating white GM corn imports, most of which comes from the United States. (Susan Slater/Wikimedia Commons)
“The use of genetically modified corn as a raw material must be avoided in the making of the products covered by this Mexican Official Standard,” states the document, which was posted to an online platform of the National Commission for Regulatory Improvement (Conamer).
Interested parities have 30 days to comment on the proposal, after which the government could publish a modified NOM in its official gazette that bans the use of GM corn in tortillas. The modified NOM would take effect 60 days after publication.
The National Chamber of Industrialized Corn (Canami) said that the proposed measure “creates restrictions on international trade and members of the International Trade Organization must be notified.”
Canami also said that the costs of laboratory tests to determine whether corn is GM or not aren’t being considered. The chamber said that those costs could cause their members to record net losses.
Marcela Martinez Pichardo, president of Mexico’s National Chamber of Industrialized Corn, which said the proposed change creates restrictions on international trade and that the cost of testing would be a burden to its members. (Canami/Facebook)
The newspaper Reforma reported that there have also been complaints about the brevity of the 60-day period between the publication of a modified NOM and the entry into force of its provisions.
The Health Ministry’s publication of the draft proposal on the Conamer platform came just over a week after the federal government imposed a 50% tariff on white corn imports in an effort to limit human consumption of GM maize.
The tariff, which ends access to cheap white corn imports, is scheduled to remain in force until Dec. 31, 2023, after which Mexico intends to ban the importation of GM maize for human consumption. A ban on GM corn for animal feed is slated to come in at an unspecified later date, depending on supply.
The government of the United States – a large supplier of yellow corn fodder to Mexico – last month requested dispute settlement consultations with its Mexican counterpart over Mexico’s ban on GM corn imports. The government of Canada announced June 9 that it would participate as a third party in the consultations initiated by the U.S.
The peso has appreciated nearly 15% against the dollar so far this year. (Depositphotos)
The value of one US dollar dipped below 17 Mexican pesos for the first time since 2015 on Wednesday morning.
Data from the financial and media company Bloomberg showed that one greenback was buying 16.98 shortly after 7:30 a.m. Mexico City time.
That exchange rate represented the peso’s strongest position since December 2015. The peso subsequently weakened slightly and was trading at 17.00 to the dollar shortly before 9 a.m.
The Mexican peso has appreciated 14.77% against the US dollar this year, making it the world’s second best performing currency against the greenback.
High interest rates in Mexico — the central bank’s benchmark rate is currently 11.25% — is seen as one factor that has contributed to the peso’s positive performance this year. Strong incoming flows of foreign capital and remittances are among the other factors cited by analysts.
Janneth Quiroz Zamora, chief economist at the Monex financial group, wrote on Twitter that positive data on domestic consumer demand published by the national statistics agency INEGI on Wednesday morning gave the peso a boost.
French bank BNP Paribas is predicting that the USD-MXN exchange rate will be 16.70 at the end of the year, but the four largest banks in the Mexican market – BBVA, Banorte, Citibanamex and Santander – all predict that a greenback will buy more than 18 pesos at the close of 2023.
San Miguel de Allende is a perfect place to have a home with a pool. (CDR San Miguel Founding Member of Forbes Global Properties)
In San Miguel de Allende, the UNESCO World Heritage city in the heart of Mexico (voted “world’s best small city” three times by Condé Nast Traveler), the weather is pretty much perfect all year round. There’s a sense of the seasons, but the sun always shines. That means if you’re buying a home, a swimming pool is a luxury that makes complete sense.
San Miguel’s environment, the high desert sierra, is a happy climate oasis, where international travelers flock to enjoy ideal temperatures and low humidity. More people are investing in second homes, or making the switch to residency here. Whether you’re dreaming of an 18th-century hacienda style treasure or a state of the art modern eco-home, San Miguel offers outstanding real estate opportunities for all tastes.
Calle Aldama is one of the most famous and beloved streets in San Miguel. (Unsplash)
A few blocks away from the town’s central plaza, this majestic 7-bedroom 18th-century hacienda’s pool is the heart of the house, set in an open landscaped courtyard. Flanked by the exotic outdoor living room, a dining area with high beamed ceilings and one of several elegant guest rooms, the lush pool area is ideal for entertaining, and soaking up an ambiance of history, beauty and artistry.
This home is one of the finest examples of a re-imagined grand hacienda in the city, with its soaring arches, original fireplaces, chandeliers and exquisitely carved wooden doors transporting you back in time, and conjuring the soul of colonial Mexico.
The peaceful pool in Casa Palikao. (CDR San Miguel Founding Member of Forbes Global Properties)
Other stand-out features are the outdoor staircases which lead to a botanical garden on the second level, overlooking the glorious skyline, and an impressively restored second house and garden that is seamlessly joined to the original house.
This rare jewel is truly a one-off in luxury, and has been lovingly redesigned by renowned designers and architects.
Located on one of the most beautiful streets in central San Miguel, this 4-bedroom property epitomizes intimacy, charm and character. The progressively leveled terrace gardens lead down to its magical pool area, bordered by classic deep red, bamboo and ivy covered walls, featuring one of the home’s delightful array of antique stone animal statues.
Poolside at Casa Camille. (CDR San Miguel Founding Member of Forbes Global Properties)
Sink into the atmosphere of the town’s Spanish colonial history, with this home’s ancient loggia, richly detailed carved woodwork throughout the house, blue and white tiled halls and walls, and abundant greenery and trees. The eye-catching entryway gate, fashioned in extravagantly patterned metal work is another notable feature.
This light-filled, distinctively classical home embodies elegance and boasts original stone fireplaces, antique water features, and luxurious rooms, two with inner courtyards.
Stunning views from the rooftop terrace provide just one more area in a home where space is masterfully designed to flow and to foster the perfect environment for entertaining.
The two guest rooms’ French doors open onto this gorgeous pool terrace, inviting you to imagine a bright morning or golden evening dip!
Experience shades of Tuscany in this exquisite farmhouse style 4-bedroom modern home, set in a secure residential community within one of the most beautiful vineyards, just 20 minutes outside San Miguel.
The solar-heated pool is the central feature of the garden and offers panoramic views across the vineyards, cypress and olive groves, and lavender fields. Next to it is a dining area shaded by grapevines – which creates a spectacular space to hang out all day!
The solar-heated pool at Casa Merlot. (CDR San Miguel Founding Member of Forbes Global Properties)
This luxury country lifestyle offers the opportunity to bask in the beauty of nature. The home itself boasts custom-designed wood doors and library bookcases, an impressive modern marble-topped kitchen, lofty ceilings, expansive windows that flood the rooms with natural light and top-shelf amenities throughout.
You’ll be privy to special amenities, like tennis, billiards, a clubhouse, an event space, horse riding – and the reputable wines bottled on-site, at residents’ prices!
A feat of modern design by architect Paolo Arango, built using local stone, this 3-bedroom eco-friendly home is situated in the exclusive Malanquín Golf Club, on the edge of town.
You can relish the lake, valley and mountain vistas from the spectacular infinity pool in the spacious backyard, which also has two large patios, outdoor dining, a grill and fire-pit.
Modern fireplaces, custom carpentry, granite kitchen features, walk-in closets, balconies and even a bathtub, are all noteworthy features of this contemporary gem. With its impressive windows, the interior seems to blend seamlessly into the outdoors, creating an unrivaled sense of space.
The infinity pool at Casa Alba. (CDR San Miguel Founding Member of Forbes Global Properties)
Rainwater recycling, drip irrigation for the garden, solar power, LED lighting and a smart home kit makes this a home that anticipates the future and displays highly creative architectural design.
Retreat into this stunning area at the foot of the picachos mountains, to discover this modern and stylish 4-bedroom home.
Only 10 minutes from town, you’ll feel like you’re in the countryside; though on the edge of La Malcontenta neighborhood, you can be assured you’re secure.
Mountain views from the pool at Casa Vista Picachos. (CDR San Miguel Founding Member of Forbes Global Properties)
Here, the breathtaking aqua pool rises up towards the mountainous skyline, with a hot tub close by for cooler mornings and pleasant evenings. The entire outdoor area, including the seating round the grill and stone fire circle, is beautifully lit by night.
Inside, this modern beauty includes the unique features of a wide walnut staircase, mezquite doors, hand-painted tiles, upstairs terraces and a sauna.
The sense of light, space and artful modern design, like the high ceilings with contemporary beams and chandeliers, is a perfect counterpoint to the rugged, dramatic and awe-inspiring setting of the high sierra.
Post-pandemic, San Miguel de Allende is more in demand than ever before. We’re seeing an exponential increase in foreign residents and businesses, injecting this cultural hub with even more quality, variety, diversity and energy. It’s a city explosive with new creative potential, yet retaining the calm grandeur of its history and culture.
There is no doubt that if you’re looking to invest or to live here, these five truly magnificent, high-end properties, each with unique and notable pools – listed with the city’s most reputable luxury brokerage, CDR San Miguel Founding Member of Forbes Global Properties – offer that quintessential magic the city is renowned for.
A pro-migrant protester stands outside the U.S. embassy in Mexico City. The Mexican government says that Florida's SB 1718 and Kansas' HB 2350 unfairly target migrant workers. (Andrea Murcia/Cuartoscuro)
Mexico has expressed its opposition to recently enacted laws in the U.S. states of Florida and Kansas due to their potential impact on Mexican migrants.
In two separate statements, the Ministry of Foreign Affairs (SRE) said that the federal government disapproves of the immigration law that took effect in Florida on July 1 and the human smuggling law that went into force in Kansas on the same day.
Foreign Affairs Minister Alicia Bárcena met with President López Obrador to discuss the anti-immigration measures. (Presidencia/Cuartoscuro)
The former law makes using the Department of Homeland Security website E-Verify “mandatory for any employer with 25 or more employees, imposes enforceable penalties for those employing illegal aliens, and enhances penalties for human smuggling,” according to a statement on the website of Governor Ron DeSantis, who signed the legislation in May.
It also “prohibits local governments from issuing Identification Cards (ID) to illegal aliens, invalidates ID cards issued to illegal aliens in other states, and requires hospitals to collect and submit data on the costs of providing health care to illegal aliens,” among other measures.
The SRE said that Mexican consulates in Miami and Orlando, “on behalf of the government of Mexico, express the government’s repudiation of measures that lead to acts of discrimination and racial profiling.”
The statement said that the federal government respects the “processes and measures taken by state legislatures” in the United States but believes that the new law “will affect the human rights of thousands of Mexicans, including children, and will exacerbate hostile environments, which may lead to hate crimes and acts against the migrant community.”
Many Mexicans in Florida protested against the measures at the state capitol. (Cody Butler/Twitter)
“The measure does not reflect the migrants’ valuable contribution to the economy, society and culture of Florida and the country,” the SRE added.
The ministry also said that “criminalization is not the way to solve the issue of undocumented immigration” and asserted that the measures in the law are inspired by “xenophobic and white nationalist sentiments.”
“Policies such as these also have a strong impact on the bilateral relationship between Mexico and the United States, given that they demonstrate the reluctance of some actors to find joint solutions that invite collaboration,” the SRE said.
“… On behalf of the Government of Mexico, the Foreign Ministry will use all resources at its disposal to defend the rights and dignity of the Mexicans in Florida. … With the support of civil society organizations involved in defending human rights, Mexico will identify and register potential cases of violations of the rights of Mexican nationals,” the ministry said.
Migrant workers are the backbone of various types of labor in Florida, but there are reports that many are leaving the state as a result of the new law, described as one of the strictest immigration laws in the U.S. (kzoo)
It added that consular staff will be trained in the “scope” of the law and “in publicizing messages and recommendations through the ‘Know and Exercise Your Rights’ strategy, which seeks to educate our community about their basic rights.”
Some migrant workers have decided to leave Florida due to the implementation of the new law, according to an official with the Farmworkers Association of Florida.
“We are hearing people are starting to leave,” Yvette Cruz told CBS News. She predicted that more migrants will leave due to the application of Senate Bill 1718, which has been described as one of the strictest immigration laws in the United States.
President López Obrador on Monday expressed his dislike for the new law and called on like-minded citizens to demonstrate their dissatisfaction with it at the ballot box.
Kansas governor Laura Kelly, right, vetoed her state’s immigration bill, saying legislators hadn’t thought out its consequences well enough, but her veto was overturned. (Laura Kelly/Twitter)
“Not one vote for DeSantis,” he said, acknowledging the governor’s presidential aspirations. “Not one vote for those who reject migrants. We can’t remain silent.”
In Kansas, House Bill 2350, which took effect Saturday, “creates the crimes of human smuggling and aggravated human smuggling, provides for criminal penalties, and makes these provisions supplemental to the Kansas Criminal Code.”
The SRE statement on that law expressed a sentiment similar to that conveyed in the press release on the new measures in Florida.
“The Consulate of Mexico in Kansas City, on behalf of the Government of Mexico, expresses the government’s repudiation and concern regarding initiatives such as these that can lead to racial profiling and acts of discrimination and abuses against the Hispanic, Latino and Mexican community,” it said.
Under the new Florida law, hospitals receiving Medicaid money would be required to ask every patient about their immigration status and report that data to the state. (Florida Health Justice Project)
“The safety and wellbeing of the Mexican community in Kansas is a priority that we share with the highest authorities of the state, and we welcome Governor Laura Kelly’s veto of the bill because of its potential implications,” the statement said.
Kelly’s veto of the bill was overturned by the Kansas Legislature in late April. The Democratic Party governor had said that House Bill 2350 was “the product of a rushed process” and would have “unintended consequences, from decimating our agriculture workforce to allowing the state to encroach into Kansans’ personal lives.”
“You just have to look at basic examples: If a good Samaritan gives his or her fellow Kansan a ride to work and receives gas money in exchange — or if a paramedic, while on duty, transports someone to the emergency room — they could be subject to level-five felonies,” Kelly said April 24.
“That overcriminalization is unnecessary and shows that lawmakers haven’t considered the full impact of this bill.”
The SRE again expressed its respect for “state legislative initiatives” in the U.S., “but, at the same time, the Foreign Ministry’s North America Unit will intensify its efforts to provide accurate and timely information to the Mexican community, and ensure respect for their rights and recognition of all of the contributions they make on a daily basis both in the state [of Kansas] and throughout the U.S.”
New Aeromexico nonstop flights between Mexico City and Rome have created the first direct connection between the two cities since the collapse of the Alitalia airline in 2021. (airlinesfleet.com)
An estimated 200,000 Italian tourists will arrive in the country next year thanks to the new Aeroméxico flights between Rome and Mexico City, Mexican ambassador to Italy Carlos García de Alba told reporters at a Tuesday press conference.
The Mexican airline has operated a daily flight between the two cities since June. The route was formerly operated by defunct Italian carrier Alitalia, which collapsed in 2021.
A sign of greater interest in Mexico? Italians are also drinking more tequila, with the country moving into sixth place in global consumption of the Mexican spirit. (Francisco Galarza/Unsplash)
“The new flights between Rome and Mexico City are overcrowded and are registering a higher volume of passengers than those from European capitals such as London or Paris,” García de Alba said.
He also said that 2024 will see a “strong transversal program,” involving 18 activities to commemorate the 150-year anniversary of diplomatic relations between Italy and Mexico, which began on Dec. 15, 1874.
García de Alba said that Italy is the sixth largest per capita consumer of tequila, owing to a 50% spike in consumption during 2022. The increase raised Italian imports to 2.7 million liters, surpassing Australia and Canada for the first time.
In May, Mexico’s Tourism Ministry awarded the Val’Quirico development in Tlaxcala — a tourist attraction that recreates an Italian medieval village — the newly created title of Kingdom of Mexico for promoting the Italian regions of Tuscany and Umbria, as well as Segovia in Spain.
Val’Quirico is a hybrid residential and tourist complex modeled on medieval European construction as would be found in parts of Italy. (Val’Quirico)
Luigi de Chiara, the Italian ambassador to Mexico, highlighted that Val’Quirico promotes Italian lifestyle, culture, history and tourism, as it invites visitors to visit “the original places” in Italy.
Aside from tourism and Mexican imports, the Italian government has also supported Mexican authorities in repatriating stolen artifacts. Italy will also welcome the arrival of the Mexican navy ship Cuauhtémoc in Naples on July 29.
Eliza showing off a completed book. (Joseph Sorrentino)
Eliza Holliday is a bit of a throwback. She’s someone who still finds pleasure in the simple act of holding a book in her hands.
“I love books,” she said. “I like the act of opening a book, discovering something, absorbing information.”
Amor Amate works with many different kinds of books and paper, but the traditional amate is Holliday’s favorite. (Eliza Schulte Holliday/Facebook)
And she does much more than just open books. She makes them and teaches others how to do so as well.
A native of Chicago, Holliday is also a professional lettering artist.
“I took a [lettering] course in college,” she said. “I’ve always made my own greeting and business cards. I like making words look pretty. When I discovered calligraphy, that opened the door to art.”
Holliday has always had an interest in books. “I’ve been making books my whole life. The first one was for a boyfriend when I was 17.”
Coptic stitch is one of the oldest ways to bind books, dating from early Christian practices in Egypt. (Kenneth Cain)
She taught calligraphy for many years, including at the curiously named Camp Cheerio, a Boy Scout camp in North Carolina where calligraphy retreats are held twice a year. When not teaching classes, she took workshops to learn bookmaking.
“Calligraphy and books are an obvious marriage, and I learned bookmaking so I could hand-letter my own books,” she explained.
Holliday and her husband Kenneth Cain came to Mexico eight years ago.
“We spent a year in Guadalajara and then went on a six-month quest around Mexico before landing in Cholula,” she said.
Holliday now lives and works in San Francisco Acatepec, Cholula. (Tripadvisor)
They now live in San Francisco Acatepec, a pueblo in San Andrés Cholula, where she started Amor Amate, a name that combines amor, meaning “love,” with amate, a type of Mexican handmade paper she’s fallen in love with.
She discovered papel amate when she walked into a Hiperlumen (an art-store retail chain in Mexico) and saw the paper for sale.
Papel amate is made in San Pablito, a tiny village about 3.5 hours from Puebla city, usually from the bark of the jonote tree (Trema micrantha). The bark is first cooked and then pounded with a rock, then dried in the sun.
After learning about the paper, Holliday and Cain drove to San Pablito and went to some of the galleries there.
Amate paper drying in the sun. (Luis Fernando Orozco Madero/Wikimedia Commons)
“People there are very open to the public,” she said.
She’s formed a close connection with the Santos Rojas family, who own the gallery Artesanía, and visits regularly to replenish her stock.
“Amate is very fragile, so you have to back it up with Japanese rice paper or some other paper,” she said. She also uses paste paper to make her books, and acid-free paper for the pages inside.
She teaches six different bookmaking workshops, including ones on making accordion-fold books, origami books and Coptic journals.
Amate was originally used by Mexico’s Indigenous people to record events or present offerings to the gods. In the mid-20th century, it began to be used for artisan works. (Wikimedia Commons)
“Classes are [for] one day and [they are] four hours long,” she said. “In class, the first book you make is an instruction book on how to make the book. Then you get all the materials needed to make a bigger book, and you leave with two books.”
On the day I visited her, Holliday was working on a Coptic journal, binding the papers with what’s known as a Coptic stitch.
“The Coptic stitch is one of the most ancient binding techniques of mankind,” she said, explaining that it was invented around A.D. 200 by an early Christian group in Egypt.
Using a thick, curved needle, Holliday gently pierced the book’s paper, making a series of stitches that formed a chain, a trademark of the Coptic stitch. One benefit of this technique is that a book can lay flat when opened.
Holliday also holds bookmaking classes for those interested in learning the craft. (Kenneth Cain)
When asked how long it would take to make a book like the one she was working on, Holliday admitted she didn’t know.
“I never sit down and just complete a book,” she said. “I just work on them as I can work on them. Stitch by stitch, folio by folio.”
It may seem a little old-fashioned to put photos in a book since a book can hold a limited, rather small, number of photos while a cell phone or computer can hold thousands, but there’s something special about having just a few photos in a book, says customer Martha Cabrera, who recently bought a book from Holliday to give to her son and his girlfriend to use as a photo album for their first child.
“In a book, you only put in the most special photos,” she said. “You spend more time with each photo, and it brings back more memories. I like the book I bought from Eliza because it is made by hand. It is artisanal and unique.”
Holliday holds classes at the Jardín Etnobotánico Francisco Peláez Roldan in Cholula — although they’re briefly on hold due to construction work in the botanical garden.
“The classes are on demand,” she said. “There’s probably a two-person minimum, a maximum of 15.” Classes cost 400 pesos.
Holliday also takes commissions, designing photo and sign-in books for weddings, births and other occasions. She’s also coauthored books on calligraphy with Marilyn Reaves under the name Eliza Holliday and Eliza Schulte, available at johnnealbooks.com.
As Holliday showed me her various books and papers, I noticed that she handled them gently, almost caressing them. “All things handmade are important,” she said. “People want to touch and feel things.”
Joseph Sorrentino is a writer, photographer and playwright who currently lives in Chipilo, Mexico. More articles, stories and photographs may be found at his Substack account.
Safran is one of the world's largest producers of jet engines, providers to popular aircraft such as the Boeing 737 and Airbus A320. (Safran)
French aerospace equipment manufacturer Safran Group has announced a multimillion-dollar investment in the state of Querétaro, according to an announcement made by Governor Mauricio Kuri at the Paris Air Show, which ended on June 25.
With a further investment of US $80 million, the company will expand two of its plants in the country and build a new one to house an aircraft engine test bench.
The Safran facility in Chihuahua is the largest producer of airliner wiring in the world. (Christel Sasso/CAPA Pictures/Safran)
The new SAESA Testcell project is part of the Safran/GE-owned CFM jet engine division, which supplies engines to both the Boeing 737 and Airbus A320, the world’s two best-selling aircraft. The company was previously best known for providing the engines for supersonic passenger aircraft Concorde.
The expansion will create 800 new jobs in maintenance, production, innovation, development and R&D, Kuri said.
“We are very proud and really appreciate the support of Querétaro in helping us expand our capacity,” said Safran CEO Jean-Paul Alary.
Kuri added that Safran México is interested in continuing its support of government educational programs and projects that strengthen the competitiveness of the company and of Querétaro.
The manufacturing process for the front axle of an Airbus A380, the world’s largest airliner, also built by Safran. (Adrien Daste/Safran)
“Thank you [Safran] for trusting in our state,” Kuri wrote on Twitter.
Safran, which arrived in Querétaro 16 years ago, is the largest employer in Mexico’s aeronautical industry, with 11,000 employees across 17 production, maintenance, and engineering sites. In Chihuahua, it operates the world’s largest center for manufacturing aircraft electrical wiring.
Querétaro is a hub for aerospace manufacturing in Mexico. As of 2022, it had received 50% of all foreign direct investment in the industry over the last decade and ranked as the world’s eighth most competitive region in the aeronautical sector, offering more than 355 products and services to the global aerospace industry.
Remittances to Mexico in May set a record since amounts began being tracked in 1995. (UNAM)
Remittances to Mexico hit a new monthly record of just under US $5.7 billion in May although the strength of the Mexican peso in recent weeks and months is softening the impact of money sent home by workers living abroad.
Most of the money sent to Mexico in remittances comes from the United States, where millions of Mexicans live and work.
Mexican workers in the United States make up the majority of people sending remittances to Mexico. (Ryan Hagerty/Wikimedia Commons)
The Bank of Mexico (Banxico) reported Monday that $5.69 billion in remittances flowed into the country in May, an increase of 10.7% compared to the same month of 2022.
The dollar amount for May is the highest for any month since remittance records were first kept in 1995. The previous record was $5.36 billion, set in October last year.
The month-over-month increase in remittances was 13.8%, with Mother’s Day on May 10 helping to boost inflows of money from Mexicans working abroad, according to analysts at the Monex financial group and the banks BBVA and Banco Base.
“Mexican migrants … send additional amounts of money this month so that women who are mothers … can buy a present or save the money,” said BBVA México senior analyst Juan José Li Ng.
A stronger peso means less money for recipients who depend on remittances to contribute to their monthly budget. (Margarito Pérez Retana/Cuartoscuro)
Banxico data shows that the almost $5.7 billion in remittances sent to Mexico in May came via 14.6 million separate transactions, a 7.4% increase compared to the number registered in the same month of 2022. The average amount sent was $391, a 3.1% jump from a year earlier.
The dollar-peso exchange rate in May 2022 fluctuated from just above to just below 20. At 20 pesos to the greenback, the same $391 remittance is worth a more appealing 7,820 pesos.
With a stronger peso, the recipients of remittances — families primarily, albeit not exclusively — have less money to spend in Mexico, unless remitters increase the amounts they wire to offset the strengthening of the local currency.
Alberto Ramos, head of Latin America economics at Goldman Sachs, acknowledged that “a strong peso hurts remittances,” and said that remittances — once converted to pesos —actually declined 2.2% annually in May.
He also said that the strength of remittances in US dollars is indicative of “a very solid U.S. labor market and visible wage gains in activities and in skill-levels where Mexican citizens are disproportionately represented.”
Analysts at the Monex financial firm recently noted that remittances from abroad between January and May 2022 contributed more to Mexico’s economy than agriculture and oil exports combined. (Agriculture Ministry)
Even as a strengthening peso eats into the total amounts of money that ends up in the pockets of those receiving payments from abroad, the importance of remittances to the Mexican economy remains significant.
Central bank data shows that $24.67 billion was sent to Mexico in the first five months of the year, a 10.3% increase compared to the January-May period of 2022. Analysts at the financial firm Monex noted that the amount is higher than the combined value of Mexican agricultural and oil exports in the same period.
Based on the data for the first five months of the year, Mexico is on track to exceed the calendar year record of $58.51 billion in remittances that was set in 2022. Mexico was the second largest recipient of remittances last year behind India, which had inflows of some $100 billion.
Analysts at Banco Base increased their forecast for remittances to Mexico in 2023 to $63.26 billion from a $62.88 billion prediction in April because many remitters are sending larger amounts to compensate for high, albeit falling, inflation and the current dollar-peso exchange rate. One greenback was worth just above 17 pesos on Tuesday morning.
Banxico reported that remittances in the 12 months to the end of May totaled $60.8 billion, a record high for a period of that length.
President López Obrador frequently describes Mexicans who work abroad and send money home as “heroes.”
President López Obrador is so aware of remittances’ importance to Mexico’s economy that in May, he created a way for nationals abroad to send money home to social welfare recipients at a lower cost than through money-transfer services. (Presidencia)
During an address on Saturday to mark the fifth anniversary of his 2018 election victory, he said that 12 million Mexican families were benefiting from remittances, many of whom live in “the country’s poorest and most marginalized communities.”
“I thank our compatriots [abroad] for their help in the most difficult moments of the pandemic,” López Obrador said.
“… A migrant proudly said to me: ‘Mr. President, don’t forget that we left Mexico, but Mexico never left us,” he added.
