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Article: BA sells Air Liberte stake; French market proves too tough.
- Article from:
- The Birmingham Post (England)
- Article date:
- May 6, 2000
- Author:
CopyrightCOPYRIGHT 2000 Birmingham Post & Mail 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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British Airways yesterday blamed intense competition in the French domestic airline market for its decision to sell its shareholding in French carrier Air Liberte.
The company will sell its 85 per cent stake to Taitbout Antibes, a European finance company for pounds 40 million.
BA chairman Lord Marshall said: 'Since British Airways' initial entry into the French domestic market in 1993, competition has intensified significantly, both in the air, and on the ground from high speed trains.'
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