Intro Aviation Buys CityJet
CityJet has been bought by German firm Intro Aviation. Previously owned by Air France KLM, CityJet will now operate as an independent regional airline and will start debt-free.
Intro Aviation previously established Eurowings AG and is credited with turning around Deutsche BA (dba) and LTU GmbH (LTU). The firm is also the majority shareholder in Austrian regional airline InterSky.
CityJet's fleet comprises 18 Avro RJ85s and 11 Fokker 50s through subsidiary VLM Airlines. The firm said that it plans to renew its Avro RJ85 fleet as soon as possible. CityJet will continue to operate around 700 flights a week from its operational hub in London City Airport, and satellite networks from Cardiff Airport and Cambridge International Airport. The airline will also operate flights on behalf of Air France from Charles de Gaulle airport.
Christine Ourmières will continue to serve as CEO and a member of the board, and the CityJet senior management team will remain the same. The airline is set to embark on a complete rebrand, for which the new logos and liveries will be unveiled in June.
Commenting on this new independence, Ourmières said: “Our business model is ideal for the point-to-point traffic that is much needed in regional areas across Europe.
“As an independent regional airline, we will be able to quickly and easily adapt to these demands in service, as we've recently done with both Cardiff and Cambridge.”
The Intro group was advised by Barons Financial Services SA of Geneva. (May 2014)