BA acquires L'Avion

British Airways (BA) has acquired Paris-based carrier L'Avion as part of a €62 million (£54 million) deal which is expected to be completed by the end of the month.

The previously privately-owned French airline operates two Boeing 757 aircraft to service a route between Paris and Newark Airport in New York.

As part of the deal, BA acquires £26 million in cash reserves and L'Avion will become a fully fledged BA subsidiary.

The airline will be integrated into BA's US-EU operation, titled OpenSkies, which commenced operations during June.

L'Avion will run three daily services from Paris' Orly Airport to Newark with an additional Boeing 757 added to its fleet.

Willie Walsh, BA's chief executive, indicated that "L'Avion is a successful airline that has built up a premium business between Orly and New York in a relatively short period of time".

"It has many synergies with OpenSkies and buying it provides OpenSkies with a larger schedule and an established customer base in the Paris-New York market," he added.

L'Avion was founded in 2006 by French pilot and entrepreneur Frantz Yvelin and has former Air Liberté boss Marc Rochet as its chief executive.

Due to increased fuel prices and tight economic conditions, L'Avion is one of the few remaining transatlantic business airlines left in operation.

The airline commenced operations in January 2007 and has carried 65,000 passengers from Paris to Newark since its launch.

Airline News posted on 03 July 2008

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