Vueling and Clickair agree to merge
08.07.08
Spanish budget airlines Vueling and Clickair have agreed to merge in order to better cope with intense competition and spiralling fuel costs, they announced today. Vueling will absorb Clickair, which is 80% owned by Iberia, through a capital increase. The Clickair name will disappear.
The new airline will have 45 aircraft, 10.7m passengers, 2000 employees, 300 daily flights and 112 routes. As the third largest airline in Spain - and the largest budget airline - it will be better equipped to take on easyJet and Ryanair, who have been agressively building business to, from and within Spain, a spokesman said.
The merger, which is subject to competition commission approval, will see Iberia as a major shareholder, with a 46% stake in the new Barcelona-based airline. Other shareholders will include Nefinsa and Inversiones Hemisferio. It is thought Clickair chief executive officer Alex Cruz will head up the new airline.
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