23-Nov-2009 1:41 PM

Business combination Meridiana and Eurofly creates 'Meridiana FLY'

Eurofly Board approved (19-Nov-2009) a merger with majority shareholder, Meridiana SpA, which owns 60.7% of Eurofly, creating a single airline, Meridiana Fly. The merger plan calls for transfer of Meridiana's air transport activities to Eurofly, which increases its capital by EUR52.56 million. A EUR40 million share capital increase by way of rights option will occur following the merger. The new airline will focus on medium- and long-haul services, while peak short-haul and charter operations will be handled by newly-incorporated company Meridiana Express, which will exist within Meridiana Fly. The deadline for integration is 31-Jan-2010.  [more