CityJet sold to private investors
Founder Pat Byrne and private equity backers have repurchased Irish regional airline CityJet from German owners Intro Aviation for an undisclosed sum. The airline, which carried around 2m passengers last year, was bought from Air France-KLM in 2014 by Intro Aviation. CityJet operates 8 routes from London City and a service linking to Air France's hub at Paris Charles de Gaulle. Byrne said that the airline saw an initial public offering within 2 to 3 years as "the ideal way to go." The airline expects to make a modest profit this year and revenue will increase to E300m (US$335m) within 2 years from the E177m earned in 2014 when it posted an operating loss of E22.7m, he said. CityJet is expecting delivery of the first of 8 new CRJ900s from Bombardier this week with subsequent deliveries to continue until June. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-03-25/unaligned/cityjet-sold-to-private-investors
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CityJet sold to private investors
Founder Pat Byrne and private equity backers have repurchased Irish regional airline CityJet from German owners Intro Aviation for an undisclosed sum. The airline, which carried around 2m passengers last year, was bought from Air France-KLM in 2014 by Intro Aviation. CityJet operates 8 routes from London City and a service linking to Air France's hub at Paris Charles de Gaulle. Byrne said that the airline saw an initial public offering within 2 to 3 years as "the ideal way to go." The airline expects to make a modest profit this year and revenue will increase to E300m (US$335m) within 2 years from the E177m earned in 2014 when it posted an operating loss of E22.7m, he said. CityJet is expecting delivery of the first of 8 new CRJ900s from Bombardier this week with subsequent deliveries to continue until June. <br/>
