Groupe Dubreuil reaches agreement with TUI France for acquisition of Corsair

Groupe Dubreuil announced (20-Feb-2015) an agreement with TUI France for the acquisition of a 100% stake in Corsair, with Groupe Dubreuil to implement a new operating structure for Corsair and its existing carrier Air Caraïbes in 2016. The transaction will be completed following the conclusion of negotiations with Corsair's 'Works Committee' and the receipt of regulatory approval. Corsair will become a subsidiary of Groupe Dubreuil with a supervisory board chaired by Groupe Dubreuil chairman Jean-Paul Dubreuil, and a management board chaired by Air Caraïbes CEO Marc Rochet. The company also announced plans to lease an additional three A350-900 aircraft and exercise existing options on two A350-1000s, bring its total A350 fleet to six A350-900s and five A350-1000s. Mr Dubreuil said: "The proposed acquisition of the Corsair airline, a project driven by its goal of sustainable growth, represents an important opportunity for the group and also to constitute the premier 100% private French air carrier. We intend to give priority to a rapid return to profitability of Corsair, thanks to synergies created by the constitution of a major air hub." [more - original PR - French]