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Aigle Azur prepares to sell some of its activities to Vueling

Aigle Azur is barely stopping his service to Portugal and is preparing to give it to Spain's low-cost Vueling, said Frantz Yvelin, president, except for the danger of the second major French airline's recent disappearance yesterday.

“We're getting ready to sell a small portion of our Paris operations at Vueling without a social impact. In this context, we will retain some of our work in Orly and move the rest of our work to Paris-Charles-de-Gaulle. Yok In the service of Algeria, since September 2017. “There is no threat in the short term, but on the other hand there is a threat in the long run, that is the truth, Bay Mr. Yvelin added.

The company's labor costs in France, fuel prices and excessive capacity in Europe last fall, if guaranteed to ensure that there are no kork fears "for the return of passengers on vacation.

Founded in 1946, the company represents 50 to 60% of its activity with links to Algeria and employs 1,150 employees in Algeria, including 350. It carried 1,881 million passengers in 2018 and has a turnover of 300 million euros per year (or $ 336 million), but has been "losing money since 2012" according to Yvelin. In August, it was close to 25m euros ($ 28m) in cash. Ik We couldn't find any party interested to get Aigle Azur, ”he continued. The company belongs to the Chinese group HNA (49%), American businessman David Neeleman (32%) and Lu Azur (19%).

Aigle Azur, according to him, will stop serving Portugal from the end of October. The proposed sale of this activity was submitted to the business council on August 5. "He wanted to do a complementary work," he said, which could last for two months at the end of the legal deadline, adding that the administration is preparing for everything to be ready.

Vueling is part of the IAG group, including British Airways, Spain's Iberian, Ireland's Aer Lingus and low-cost Airline.

Aigle Azur, who was contacted by L-Orient-Le Jour, was not present to discuss the impact of this acquisition on its activities in Lebanon.

Source: AFP

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