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Transport
The Post sold its subsidiary, Air Europe Airpost
(Easybourse.com) Times have changed: this former bastion of public service hostile to the privatization expected to endorse today, and after more than a year of discussions the sale of its subsidiary Air Europe Airpost the freight company Irish Air Contractors for the sum of 47 million euros. An assignment that will enable the Post Office to refocus on its core activities and Europe Airpost to fly to new horizons on board new aircraft
There are no more but Aeropostale Post subsidiary, Europe Airpost. The public service is no longer incompatible with privatization. And normally, the heir of Aeropostale should be transferred after a year of discussions with the freight company Irish Air Contractors, a subsidiary of investment funds Belgian Pertercam and the Compagnie Maritime Belge.
An assignment for the historic Post and the ex-Aéropostale
The exclusive negotiations initiated on November 8 have a good chance of success today and should mark the first ever operation of total privatization of a subsidiary of Swiss Post. A formality that will be in the discretion given the opposition of some staff and workers, who nevertheless preferred Air Contractors in the French company Air Azur. The transaction will finally be a government decree, may be appealed to the Council of State.
It is a page that looks for ex-Aéropostale renamed Europe Airpost in 2000 in the wake of her divorce from Air France. Although less well known as Air France, it is nonetheless the second French company with 22 aircraft 16 Boeing 737-300, 2 Airbus A300-B4, 4 Fokker F27 and 400 employees around. In addition to transportation, every night, some 300 tons of mail, which forms the bulk of its business, the company has developed a complementary activity of charter flights during the day, with 16 Boeing 737 convertible. The Irish buyer is committed to preserving jobs and to finance the arrival of two new B737-700 next year and three more in the future, what rechignait group.
Airpost Europe is not a subsidiary of the Post deficit, it displays the contrary good financial health: it has achieved a turnover of 240 million euros in 2006, for a net operating profit of 15 million.
Now, La Poste will pocketing the 47 million raised and to be able to concentrate on the transportation of mail by rail, through the possible establishment of a joint venture with SNCF.