 |
British Airways acquires French premium carrier L’Avion |
UK/FRANCE. British Airways has reached an agreement to buy French airline L’Avion at a cost of £54 million (€68 million). The cost covers the purchase of the airline and £26 million (€33 million) of cash in its business.
L’Avion is a privately owned airline that operates two Boeing 757 aircraft between Paris Orly and Newark Airport in the US. Following completion of the deal, expected this month, it will become a British Airways subsidiary and be integrated into OpenSkies, the airline’s new EU-US subsidiary airline.
OpenSkies launched services on 19 June this year with daily flights from Paris Orly to New York JFK that operate with a L’Avion codeshare. The combined airline will operate up to three daily flights between Paris Orly and New York JFK/Newark airports using three Boeing 757 aircraft.
British Airways Chief Executive Willie Walsh said: “L’Avion is a successful airline that has built up a premium business between Orly and New York in a relatively short period of time. It has many synergies with OpenSkies and buying it provides OpenSkies with a larger schedule and an established customer base in the Paris-New York market.”
Christophe Bejach, Co-Founder and Chairman of L’Avion, said: “We are happy to merge our operation with OpenSkies. This transaction will strengthen our current base and enable the combined airline to grow faster and stronger. Our staff will benefit from the ambition and recognised expertise of the buyer and our customers will have access to an even better service, on a larger scale.”
ABOUT L’AVION
L’Avion is the trading name for Elysair which is privately owned by Société de Participation Aérienne. The airline was launched in January 2007 and its aircraft operate with a single 90-seat business class cabin. It is based in Paris and employs 77 staff. Completion of the deal is conditional on clearance from the relevant regulatory authorities.
[comments]
Your post will appear – once approved – in
The Moodie Forum on our home page
MORE STORIES ON BRITISH AIRWAYS
Counting the cost of oil – British Airways to raise surcharges from 3 June – 30/05/08
Two British Airways senior executives depart following Terminal 5 opening debacle – 16/04/08
BAA and British Airways defer transfer of long haul flights out of Heathrow Terminal 5 – 11/04/08
