European Commission approves CityJet/Air Nostrum merger

European Commission approved (24-Jul-2019) the creation of a JV between Fortress Investment Group and Air Investment Valencia, combining the activities of CityJet and Air Nostrum. The activities of CityJet and Air Nostrum overlap in the provision of wet leasing services to airlines and charter flights. The commission concluded the proposed transaction would raise no competition concerns as the companies have moderate market shares, a sufficient number of competitors remains on the market and the barriers to entry are low. [more - original PR]