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Article: French court clears Air Liberte takeover
- Article from:
- The Independent (London, England)
- Article date:
- November 6, 1996
- Author:
CopyrightCopyright 1996 The Independent - London. Provided by ProQuest LLC. (Hide copyright information)
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A French commercial court last night cleared the way for
British Airways to take control of the regional airline Air Liberte
in a deal that will give it a one-fifth share of domestic flights
from Orly airport, writes Michael Harrison.
BA is to invest pounds 55m and take a 67 per cent stake in Air
Liberte, while the French banking group Banque Rivaud will invest
Fr190m for the remaining 33 per cent.
Marc Rochet, chairman of BA's existing French subsidiary, TAT
European Airlines, will become chairman and chief executive of Air
Liberte, although the two carriers will be kept distinct for the
time being. ...