BA buys French partner L’Avion for EUR 68 mln

British Airways is buying its French code-share partner L’Avion for GBP 54 mln (EUR 68 mln), in a deal that includes GBP 26 mln (EUR 33 mln) of cash in its business.
L’Avion is a privately owned airline that operates two Boeing 757 aircraft between Paris Orly and Newark airport. Following completion of the deal, it became a British Airways’ subsidiary and is integrated into OpenSkies, the airline’s new EU-US subsidiary airline.
OpenSkies launched services on June 19 this year with daily flights from Paris Orly to New York JFK that operate with a L’Avion codeshare. The combined airline will operate up to three daily flights between Paris Orly and New York JFK/Newark airports using three Boeing 757 aircraft.
“It has many synergies with OpenSkies and buying it provides OpenSkies with a larger schedule and an established customer base in the Paris-New York market,” said British Airways’ chief executive, Willie Walsh.
“L’Avion is a successful airline that has built up a premium business between Orly and New York in a relatively short period of time,” Walsh added.