company Tolmount moved a step closer to taking over Italian regional carrier
National Jet Italia (NJI) with the approval of the acquisition by company
which is changing its name to Aviation Partners Worldwide, will acquire 99.99%
of the British Airways franchisee for £35 million ($58 million). The company
has found the £13 million minimum placement in order to achieve shareholder
approval and for the deal to go through. The £13 million is the working capital
required to fund expansion of NJI’s routes. The company expects to close the
acquisition by the end of August.
NJI, which started operations last year, is majority-owned by Netherlands-based
investment company Magitbay Holdings.