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CityJet sold for Cheap

Monday, May 5, 2014

CityJet, a subsidiary company of Air France-KLM has been sold for "next to nothing" according to the Irish Independent.

The loss-making airline was bought by German Intro Aviation. Management refused to discuss exact sums but did reveal that the airline was acquired debt free.

Air France-KLM had CityJet for sale, since September 2012. There were few potential buyers, but last year Intro Aviation came into the picture. Air France-KL had continuously been investing in the regional carrier; around 63 million since December 2013. According to the CEO of Intro Aviation, Hans Rudolf Woehr, CityJet is to be profitable again from 2015 on. The CEO of CityJet, Christine Ourmieres, believes that the company has to ''start over again”

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