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British Airways Announces Agreement to Acquire French Airline L’Avion to Integrate with New Transatlantic Subsidiary OpenSkies
British Airways today announced an agreement to acquire French airline L’Avion and integrate the company with its new subsidiary OpenSkies.
OpenSkies recently launched daily flights between Paris Orly Airport and New York John F. Kennedy Airport. L’Avion operates two Boeing 757 aircraft between Paris Orly and Newark Airport. The combined airline will operate up to three daily flights between Paris Orly and the New York area using Boeing 757 aircraft. The value of the acquisition is Euro 68 million, which covers the purchase of the airline and Euro 33 million of cash in its business.
Press release
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