23 JULY 2018
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With a combined fleet of close to 100 aircraft and annual revenues of around €700m, what is claimed to be the largest pan-European regional airline group has been set up by CityJet of Dublin and Valencia-based Air Nostrum.
The companies said last week they had signed a Heads of Terms with the aim of bringing about closer co-operation between them under the umbrella of a new holding company, subject to regulatory approval.
Air Nostrum is well known as a regional operator for Iberia under a long-standing franchise agreement, flying to more than 60 destinations, and is also active in wet-lease services for customers including Lufthansa, SAS, Binter and Croatian Airlines.
CityJet employs 1,250 people across nine European countries and operates an extensive regional network of services under wet-lease contracts with Air France, Brussels Airlines and SAS.
Air Nostrum president Carlos Bertomeu said: “CityJet and Air Nostrum combining their resources in terms of aircraft, crew and support services will undoubtedly result in a far more comprehensive and cost-effective option for leading airlines in Europe.”
CityJet CEO Pat Byrne added: “We have much in common with Air Nostrum, especially the fact we both operate Bombardier CRJ 900s and CRJ 1000s, which is a robust and economic platform and ideal for wet-lease contracts.”
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