Air France-KLM Closes Sale Of CityJet

Air France-KLM Group has finally closed its sale of CityJet to German company, Intro Aviation, following an auction of the airline that was first held two years ago. None of the parties disclosed a sale price. CityJet plans to develop its independent European network but will continue to operate flights for Air France at Paris Charles de Gaulle airport. Its new owner expects the Irish airline to return to profitability in 2015 following its sale by Air France-KLM. Hans Rudolf Wohrl, founder and CEO of Intro Group, told the press in Dublin yesterday that this year's losses "seem to be reasonable." CityJet has not made an operating profit since 2007. Its last public financial results, which are for 2012, show an operating loss of €21.3m. CityJet moves to Intro with its fleet of 38 Avro RJ85 jets and 50 turboprops.

TAGS: Europe
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