clickair/Vueling: shareholders approve merger
90% of Vueling and clickair shareholders voted in favour of the LCCs’ merger in May-2009, giving the go ahead for the combined LCC, to remain named Vueling, to commence operations in Jul-2009. The merger was approved by the EU in Jan-2009, while merger covenants were signed by Vueling and clickair’s Board of Directors on 13-Feb-09 and 18-Feb-09 respectively. Final legal and regulatory requirements are to be finalised by late Jun-2009 or early Jul-2009. [866 words]
Unlock the following content in this report:
- Targeting EUR65 million in synergies
- Planning to cut 65 aircraft maintenance positions
- Vueling forecasts first full year profit in 2009
- Clickair launches new internet booking feature to generate further ancillary revenues
Graphs and data:
- Spain domestic capacity share by carrier (seats per week as % of total): Week commencing 18-May-09
- Spain international capacity share by carrier (seats per week as % of total): Week commencing 18-May-09
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