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Irish airline CityJet has linked up with Spain’s Air Nostrum and seven other firms to create a new regional aviation alliance.
The Strategic Alliance of Regional Airlines (SARA) aims to provide regional aviation solutions to airlines across Europe.
The current owners of Air Nostrum will hold 80% of the new holding company, with CityJet’s shareholders owning the remaining 20%.
The combined entity will be made up of Air Nostrum, CityJet DAC and its Danish subsidiary CityJet A/S, and another Irish airline, Hibernian.
Valencia based aircraft maintenance company ANEM and the Crew Training Centre ANTO are both also part of the arrangement along with three service companies.
These are Air Nostrum Global Services dedicated to corporate services, the flight support services entity ARA and the commercial broker, Ard Aer.
“The alliance is something we have been pursuing for over five years, and we are delighted to make it a reality, after overcoming the pandemic that delayed the process,” said Miguel Ángel Falcón, General Manager of SARA, and Vice President of Air Nostrum.
Together the different entities employ around 2,500 people as well as 74 aircraft, with plans for further expansion to around 100 aircraft over the next three years.
“This agreement is going to be very beneficial for all of the member companies of SARA,” said Pat Byrne, Head of Strategy for SARA, and CEO of CityJet.
“It helps CityJet to strengthen its position both in our Irish head office and our locations in Denmark, Sweden and the UK where we benefit from having nearly 500 employees directly involved in our wet lease agreements with our customer airlines.”
All of the companies in SARA will remain based in their home country and will maintain their own employees, meaning CityJet will continue to be an Irish business, as will Hibernian.
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