As a result, Aegean Airlines will commence four flights a week service between Athens and Abu Dhabi starting on March 30, 2014 and, subject to regulatory approvals, Etihad Airways will place its EY flight code on the new flight. Aegean Airlines will operate its new Athens-Abu Dhabi service with a 168-seat Airbus A320 aircraft.
Beyond Athens, Etihad Airways will also place its flight code on Aegean-operated flights to 16 Greek destinations, and to a further 10 cities across Europe.
In other route news, Aegean will restore a route to Hamburg starting on May 27. The route will be operated three days a week.
Copyright Photo: Paul Bannwarth/AirlinersGallery.com. Aegean Airlines’ Airbus A320-232 SX-DGD (msn 4065) with the promotional visitgreece.com sub-titles taxies past the camera at Nantes, France.
Czech Airlines-CSA (Prague) and partner Korean Air (Seoul) have announced Korean Air has exercised its option and brought in another equity partner. Travel Service Airlines (Prague) is acquiring a 34 percent share in Czech Airlines. Korean Air retains its 44 percent share.
The airlines issued this statement:
Czech Aeroholding has been informed by Korean Air about its requirement to use option to exercise its right to purchase further 34% of Czech Airline stock from Czech Aeroholding. This step is in accordance with the purchase contract on the sale of 44% of Czech Airline stock signed by Korean Air and Czech Aeroholding in April this year. Korean Air will subsequently sell 34% stake to Travel Service, an air carrier, which will thus become a co-shareholder of Czech Airlines thus joining Korean Air which holds 44% of shares, Czech Aeroholding with the final share of 19.74% and Ceska Pojistovna which will continue to hold its 2.26% share in Czech Airlines.
Korean Air explains the decision to exercise its option on further 34% of the Czech Airlines shares which is to be subsequently sold to Travel Service by its plan to reinforce its operations in Europe. Working together with Travel Service, the company wishes to make Vaclav Havel Airport Prague its European hub. The entry of Travel Service into Czech Airlines will provide Korean Air with connections to approximately 40 new destinations in Europe to which their passengers will be able to fly after their transfer at Vaclav Havel Airport Prague.
As early as in spring of this year, Korean Air purchased 44% of Czech Airlines shares from Czech Aeroholding which it will continue to hold. Now it wishes to use the Czech Airlines platform to collaborate with Travel Service. With regard to the fact that Travel Service, the new shareholder, is a Czech air carrier, Czech Airlines will not lose the status of the so called national carrier.
“We regard the development of Vaclav Havel Airport Prague aiming to make it a Central-European hub as absolutely crucial. The fact that Korean Air is bringing another key partner into Czech Airlines represents a step toward fulfilling this aim. I am convinced this partnership will be advantageous particularly for passengers who, in future, will be able to choose from a more quality product – a wide network of destinations – provided by the three carriers,” said Miroslav Dvorak, chairman of the Board of Directors and CEO of Czech Aeroholding.
In spite of the fact that the contractual documentation might be signed as promptly as possible, it will surely include suspensory conditions. This is because the entire transaction is first subject to approval by the competent antitrust authorities, which may take several months before it can take effect.
In the context of changes of the Czech Airlines shareholder structure, Philippe Moreels, the current President and Chairman of the Board, announced its intention to resign from both positions. “I welcome the entry of Travel Service into Czech Airlines and also perceive it as the culmination of the company’s intensive four year restructuring period. In this new phase, Czech Airlines is going to need some new blood and a change in its management style. Therefore, it is logical that all the shareholders will agree on a new company president after the transaction has been completed. Until then, I will continue to be available and will be working on all the steps necessary allowing the transaction to bring a synergy effect to allthe partners as soon as possible,” said Philippe Moreels about his intention to resign from both his positions after the transaction has been approved by antitrust authorities.
After the transaction has been approved by antitrust authorities, the Czech Airlines statutory bodies will continue to consist of three members and their composition will reflect the new shareholder structure of the company.
Top Copyright Photo: Karl Cornil/AirlinersGallery.com. Airbus A319-112 OK-NEM (msn 3406) of Czech Airlines arrives in Amsterdam with the special 90 Years (1923-2013) logo.
Bottom Copyright Photo: Paul Bannwarth/AirlinersGallery.com. Travel Service Airlines’ (Czech Republic) Boeing 737-8CX OK-TVB (msn 32362) prepares to land in Nantes, France.
Vueling Airlines (Vueling.com) (Barcelona) is expanding operations in Italy (especially Rome).
The company will launch a new Rome (Fiumicino) base next summer season starting on April 2, 2014. Vueling will launch 22 new routes from Rome’s Fiumicino Airport throughout the summer. Vueling will base eight Airbus aircraft at the airport. The new destinations from Rome include Alicante, Amsterdam, Athens, Bari, Berlin, Brindisi, Brussels, Catania, Corfu, Dubrovnik, Genoa, Lamezia Terme, Munich, Mykonos, Palermo, Prague, Rhodes, Santiago de Compostela, Seville, Split, Thira (Santorini) and Turin.
Vueling is also adding new routes from Florence for the summer season.
Can Alitalia survive this new assault by lower cost Vueling and Ryanair?
Copyright Photo: Paul Bannwarth/AirlinersGallery.com. Airbus A320-214 EC-HTC (msn 1540) prepares to land in Nantes.
Ryanair (Dublin) has made another attempt to acquire a controlling share of rival Aer Lingus (Dublin). The ultra low-fare carrier which already owns slightly under 30 percent of the current Aer Lingus stock is offering a premium price of 1.30 euros a share, a 38 percent premium according to this report by Reuters. If Ryanair is successful in becoming the majority owner, the acquisition of the stock would still be subject to approval by the European Commission which in 2007 blocked a previous attempt by Ryanair due to concerns about the lack in competition in the Irish market if a transaction was approved.
Meanwhile Aer Lingus has told its shareholders to do nothing and to hold on to their shares. Will a quick profit tempt many stockholders?
Read the full report: CLICK HERE
Top Copyright Photo: Paul Bannwarth.
Bottom Copyright Photo: Jay Selman.
Strategic Airlines (Brisbane) is dealing with growing adverse publicity with its French division due to a stranded flight in Lyon/St. Exupery. The charter flight with a disabled Airbus A320 was due to depart at 7 a.m. (0700) yesterday (July 10) has been grounded at Lyon/St. Exupery since then due to “technical problems” according to this published report. The passengers were due to fly to the Canary Islands and have been stranded since yesterday. The company is attempting to find a solution. Strategic Airlines has two AOCs (in essence two airlines), one in Australia and the other in France.
Read the article (in French):