Air France to shortlist offers for CityJet
Air France intends to shortlist two preferred bidders for its loss-making subsidiary CityJet, whose main operation is from London City airport, by the end of next month.
According to a report in the Irish Times, the two groups would then go head to head to acquire the Swords-based regional airline, which made a pre-tax loss of €8.9 million last year.
CityJet employee representatives were told yesterday that 10 groups had expressed an interest in the airline after Air France appointed Key Capital last year to advise on potential investors for its subsidiary.
It said six of these groups, who have not been named, were subsequently given access to CityJet’s future business plan, including its aircraft fleet, its network out of London City, its wet-lease operations for Air France and its charter business.
The employee representatives were told that Air France was seeking new investors so as to ensure a strong, successful and profitable future for the airline, which was founded by Irishman Pat Byrne in the early 1990s.
Air France took control of the airline in 2000. The sale of CityJet is part of a major restructuring of group operations by Air France to put it on a firmer financial footing.
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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