Article: French court clears Air Liberte takeover

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. ...

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