Actualité de votre compagnie

Restez informés

Cityjet parent company sells regional carrier VLM

2247-cover-image

CityJet’s parent company has sold VLM, the regional carrier bought by the Irish airline eight years ago, to its management who want to re-establish the business as an independent operator.

The news followed CityJet announcing plans to step up its Dublin-London City Airport service in response to increased competition on the route from BA and Flybe.

The Dublin-headquartered airline’s parent, Intro Aviation, has agreed to sell VLM to its management, led by chief executive Arthur White, for an undisclosed sum.

CityJet bought VLM for a reported £180 million sterling in 2008 and Intro Aviationacquired both businesses when Air France-KLM sold the Irish group to it earlier this year.

Following that deal, Intro’s group chief executive, Hans Rudolf Wöhrl, indicated it was considering disposing of VLM.

Mr White and his colleagues made an offer to Intro Aviation, whose managing director, Peter Oncken, said the German investor “could not refuse” and the deal was agreed at the weekend.

Formal completion

The transaction is likely to be formally completed next week. Neither side revealed any financial details, but it is thought VLM’s management paid less than the amount for which CityJet bought the regional airline. Mr White will be the majority shareholder.

VLM spokesman Steve Blair said yesterday the company planned to re-establish itself as a independent airline with its own scheduled services: “Prior to being bought by Air France-CityJet we had 14 years of sucessful independent operation. We would like to think that we have a great future now it’s back in our own hands.”

The company operates services from Antwerp and Rotterdam to London City under a lease deal with CityJet and that arrangement is set to continue, despite the change of ownership.

It has a similar relationship with Guernsey carrier Aurigney and also has a charter business. VLM owns 12 Fokker 50 craft and had revenue of €40 million in its latest financial year.

Dublin

to London City Meanwhile, CityJ

et said yesterday that it will increase its Dublin-to-London City flights by 25 per cent and will put on up to nine flights every weekday.

Its move follows the launch this week of services from the capital to London City by both BA and Flybe, adding to competition on the route, which CityJet has operated for 20 years.

Its chief commercial officer, Patrick Lukan, said the Dublin-to-London City Airport route remained very important to the Irish carrier.

“We continue to listen to our customers and they tell us that schedule and service are key to them making their buying decision, which is why we have increased our jet service to up to nine flights a day out of and in to London City Airport,” he said.

CityJet’s new owner is part of the Intro Group, which has interests in aviation, consulting, investing, media and retail.

Source : www.irishtime.com

À lire aussi

Vueling

Sensibilisation et de Dénonciation du Harcèlement Sexuel par des Supérieurs Hiérarchiques. Le harcèlement sexuel par...

Air France

Le SNPNC réitère sa demande de suspension de la desserte de TLV. Rappel des faits...

Air France

|

Pour préparer au mieux la Rentrée scolaire 2024 de vos enfants, vos élus au Bureau...

Air France

|

Grâce à la gestion saine du Bureau du CSE Lignes, vos élus ont pu décider...

Air France

|

Monsieur le Président, Au nom des PNC que nous représentons, L’Intersyndicale UNSA/SNPNC interpelle la Direction...

Air France

|

Les jours et les plages d’ouverture de l’Escale CSE Lignes Roissy changent. Pour vous permettre...

Air Austral

|

Nous venons de recevoir aujourd’hui l’Accord de Performance Collective signé par l’ensemble des Organisations Syndicales...

Amelia

|

Retrouvez les actualités de la section SNPNC-FO Amelia de mai 2024. La lecture complète de...

Air France

La première réunion de discussion s’est tenue ce jour, vendredi 17 mai. Pour rappel, seules...

SNPNC

SNPNC

Ce vendredi 17 mai est la journée internationale de lutte contre l’homophobie, la transphobie et...