Mexico City, Mexico (CNN) -- Grupo Mexicana suspended operations at its three airlines Saturday "until further notice," citing the financial problems inherited when the group changed owners a week ago.
The company's three airlines -- Mexicana Airlines, MexicanaClick and MexicanaLink -- stopped all flights at midday Saturday, according to a statement from the group.
"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," the statement said. "We hope to be back in the air soon and would like to thank everyone involved in this process for their support and understanding."
Grupo Mexicana said the current management received the company in a state of technical bankruptcy last week after it had filed for insolvency protection. It also cited the fact that the previous management had stopped selling tickets for the airlines a month ago, "forcing the company to continue operating in the interests of passengers without receiving any revenue."
The company advised passengers still holding tickets to consult its website to apply for refunds, or for those traveling Saturday, to contact Grupo Mexicana for assistance.