CK
ScanFlyer Mile High Club
Avion Group kjøper Star Airlines
http://www.aviongroup.com/index.aspx?GroupId=37&TabId=41&NewsItemID=209&ModulesTabsId=50
Avion Group acquires Star Airlines, second largest charter airline in France Avion Group, a global transportation solutions group, is pleased to announce the purchase of the entire issued share capital of French charter airline Star Airlines, the second largest charter airline in the French market. Star Airlines operates charter flights mainly to destinations in Africa, The Middle East, and the Mediterranean. Star Airlines operates scheduled flights, in addition to charter services to the Lebanon, Mali and Mexico. This acquisition strengthens the Charter & Leisure division of Avion Group.
Avion Group, a global transportation solutions group, is pleased to announce the purchase of the entire issued share capital of French charter airline Star Airlines, the second largest charter airline in the French market. Star Airlines operates charter flights mainly to destinations in Africa, The Middle East, and the Mediterranean. Star Airlines operates scheduled flights, in addition to charter services to the Lebanon, Mali and Mexico. This acquisition strengthens the Charter & Leisure division of Avion Group.
Star Airlines carried approximately 900,000 passengers in 2005. On completion of this acquisition Avion Group is expected to carry approximately seven million passengers on an annual basis.
Star Airlines reported revenues of €173 million (13 billion ISK) for the year 2005, yielding profit before interest, tax, depreciation and amortisation (EBITDA) of €1.9 million (142 million ISK). Avion Group is projecting a substantial growth in EBITDA for Star Airlines in 2006 by implementing cost savings through synergies with other Avion Group entities. Purchase price is undisclosed. The purchase will be financed through Avion Group’s equity and with debt.
Star Airlines’ fleet is the newest in the French charter market, consisting of six Airbus aircraft; four Airbus 320s and two Airbus 330-200s.
Star Airlines is a privately-owned company founded in 1995 by Cédric Pastour, and currently employs approximately 460 staff.
Commenting on the acquisition, Magnus Thorsteinsson, Chairman of Avion Group, said:
“Star Airlines represents a fantastic opportunity for Avion to grow in continental Europe. Star Airlines gives Avion an access to a big market with a lot of potentials.”
Here you can view a presentation on the acquisition of Star Airlines
http://www.aviongroup.com/index.aspx?GroupId=37&TabId=41&NewsItemID=209&ModulesTabsId=50
Avion Group acquires Star Airlines, second largest charter airline in France Avion Group, a global transportation solutions group, is pleased to announce the purchase of the entire issued share capital of French charter airline Star Airlines, the second largest charter airline in the French market. Star Airlines operates charter flights mainly to destinations in Africa, The Middle East, and the Mediterranean. Star Airlines operates scheduled flights, in addition to charter services to the Lebanon, Mali and Mexico. This acquisition strengthens the Charter & Leisure division of Avion Group.
Avion Group, a global transportation solutions group, is pleased to announce the purchase of the entire issued share capital of French charter airline Star Airlines, the second largest charter airline in the French market. Star Airlines operates charter flights mainly to destinations in Africa, The Middle East, and the Mediterranean. Star Airlines operates scheduled flights, in addition to charter services to the Lebanon, Mali and Mexico. This acquisition strengthens the Charter & Leisure division of Avion Group.
Star Airlines carried approximately 900,000 passengers in 2005. On completion of this acquisition Avion Group is expected to carry approximately seven million passengers on an annual basis.
Star Airlines reported revenues of €173 million (13 billion ISK) for the year 2005, yielding profit before interest, tax, depreciation and amortisation (EBITDA) of €1.9 million (142 million ISK). Avion Group is projecting a substantial growth in EBITDA for Star Airlines in 2006 by implementing cost savings through synergies with other Avion Group entities. Purchase price is undisclosed. The purchase will be financed through Avion Group’s equity and with debt.
Star Airlines’ fleet is the newest in the French charter market, consisting of six Airbus aircraft; four Airbus 320s and two Airbus 330-200s.
Star Airlines is a privately-owned company founded in 1995 by Cédric Pastour, and currently employs approximately 460 staff.
Commenting on the acquisition, Magnus Thorsteinsson, Chairman of Avion Group, said:
“Star Airlines represents a fantastic opportunity for Avion to grow in continental Europe. Star Airlines gives Avion an access to a big market with a lot of potentials.”
Here you can view a presentation on the acquisition of Star Airlines
