6 JANUARY 2014

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Article from BTNews 6 JANUARY 2014

CityJet sold

German airline investor group Intro Aviation has made a firm offer to acquire Air France-KLM unit CityJet and its Belgian subsidiary VLM.

Intro Aviation has been involved in on-off talks for CityJet since first confirming its interest in the regional operator in April.  Whilst that process appeared to have stalled in September, just before Christmas Intro confirmed it was holding talks with CityJet's union over its takeover plans. 

"This offer provides for ongoing commercial co-operation with Air France as part of a new industrial plan," Intro Aviation says in a statement confirming the offer released by its advisers on the deal, Barons Financial Services, who are established in London and Geneva.  The transaction is expected to close in the first quarter of 2014.

Turnaround specialist Intro Aviation, founded by German businessman Hans Rudolf Wöhrl, has acquired and subsequently sold a number of airlines, including German charter carrier LTU and former British Airways’ subsidiary Deutsche BA.

CityJet plans to close Dundee to London City, much to the chagrin of the Scottish Government.  On the plus side it is to start services from Cardiff to Glasgow and Paris Orly on 20 January, the day after Flybe withdraws from the routes.  Christine Ourmières and her team remain in place. www.cityjet.com http://introaviation.org

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