Air Nostrum, CityJet Sign Agreement To Enter JV

July 17, 2018

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Irish airline CityJet and Spanish regional carrier Air Nostrum have signed a letter of intent to establish a joint holding company for the two airlines.

The announcement was made at the Farnborough Airshow by Air Nostrum’s president Carlos Bertomeu, and CityJet’s chief executive Pat Byrne.

The joint holding company is intended to “drive closer cooperation between the two airlines,” a company statement said.

The agreement, which is subject to regulatory approvals, is expected to lead to a full merger of the airlines.

Based in Valencia, Air Nostrum operates as an Iberia franchisee under the Iberia Regional brand name. It has a fleet of 50 aircraft and employs 1,450 people.

Dublin-based CityJet employs 1,250 people and operates wet lease contracts for Air France, Brussels Airlines and Scandinavian Airlines SAS. It also operates a small number of flights from London’s City Airport under its own brand. CityJet has a fleet of 44 regional aircraft.

(Airwise)