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Article: Liberte, egalite, futilite.(British Airways' potential buyout of French airline Air Liberte)(Brief Article)
- Article from:
- The Economist (US)
- Article date:
- October 26, 1996
CopyrightCOPYRIGHT 1996 Economist Newspaper Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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PARIS
NOT so long ago French politicians regarded themselves rather like air- traffic controllers, navigating the country's airlines through any financial turbulence. No longer, it seems. First, in September, the French government allowed Air Liberte, a troubled private airline which lost FFr650m ($129m) in the first nine months of this year, to drift into administration-the equivalent of America's Chapter 11. Now it looks as if a foreign buyer will be allowed to acquire the business: probably none other than Air France's arch-rival, British Airways (BA).
To be sure of winning its prize, BA may have to see off an 11th-hour bid from another foreigner, Virgin ...