BA to fly away with French airline
Article Date: Jul 02 2008Aviation giant British Airways has boosted the services offered by one of its subsidiaries after agreeing to buy a French airline. The group will acquire L’Avion, which operates two Boeing 757s between Paris Orly and Newark airports.
The deal will cost £54 million, comprising the price of the company and £26 million of cash to be invested in the business.
Following completion, the acquired company will trade as part of OpenSkies, British Airways’ EU-US subsidiary airline. Clearance is expected to be granted within the month by the relevant regulatory authorities.
OpenSkies launched in June with daily flights from Paris Orly to New York JFK. Post-completion the airline will operate up to three daily flights between Paris and New York JFK/Newark airports using three Boeing 757s.
British Airways chief executive Willie Walsh says L’Avion is a good fit for the group, adding: 'It has many synergies with OpenSkies and buying it provides it with a larger schedule and an established customer base in the Paris-New York market.'
L’Avion co-founder and chairman Christophe Bejach comments that the transaction will enable the company to grow 'faster and stronger'.
Paris-based L’Avion, the trading name for Elysair, was launched in January 2007 and employs 77 staff.
