Takeover rejected, Aigle Azur ceases activities
The Commercial Court of Evry has rejected all takeover offers for Aigle Azur. The activity of the second biggest French airline stops from September 27, 2019.
After two unsatisfactory rounds of bids, the Court had given until September 16 for new offers to be submitted. But “no durable solution has been proposed by the buyers," the president of the court now explains. The activity of the airline is set to officially stop at midnight on September 27, 2019.
Air France and the Dubreuil group, the parent company of airlines French Bee and Air Caraibes, had shown interest during the first round, but eventually withdrew their prospect of submitting a common offer.
In great economic difficulty, Aigle Azur had filed for bankruptcy and suspended operations on September 7, 2019. The airline, specialized in flights between France and the Maghreb, employed around 1,150 people and operated 11 Airbus aircraft (nine A320 and two leased A330).
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