SN + Virgin
Thread Starter
Join Date: Jul 1998
Location: Between a rock
Posts: 136
Likes: 0
Received 0 Likes
on
0 Posts
SN + Virgin
BRUSSELS (AFX) - The boards of airlines SN Brussels Airlines and Virgin Express both approved a merger of the two companies in their meetings yesterday, according to SN Airholding, the new group holding company
"An agreement was signed with Virgin Express Holdings placing Brussels Airlines and Virgin Express under the common shareholding of SN Airholding," said SN Airholding this morning in a press release.
(links removed)
"An agreement was signed with Virgin Express Holdings placing Brussels Airlines and Virgin Express under the common shareholding of SN Airholding," said SN Airholding this morning in a press release.
(links removed)
Last edited by jetset; 7th Oct 2004 at 08:16.
Join Date: Jun 1999
Location: San Fran, Ca. USA
Posts: 77
Likes: 0
Received 0 Likes
on
0 Posts
Just for info this is not a merger or takeover, it is common ownership. The two airlines will continue as they are now, possibly with a few small changes to avoid competition between the two. What is interesting is that Rob Eddington of BA has already stated in the Financial Times that BA would be interested in buying Sabena Air Holdings if it became profitable. It looks now as if the new group of airlines (VEX, SNBA and Birdy) will be profitable in the near future. The deal struck between VEX and Sabena Air Holdings certainly contains clauses to cater for an imminent sell off of the whole group to a third party. I guess BA feel that they have to try and expand in response to the Air France / KLM merge.
Interesting times, I’ll be watching this space.
Kirk out…
Interesting times, I’ll be watching this space.
Kirk out…
