LOT qualifies for Swiss deal

SAirGroup's $33.7 million purchase of a 10% stake in in the Polish flag carrier LOT was officially signed in November. The purchase will be combined with a share issue, increasing SAir's stake to 37.6%. Financial assets from the share issue, equalling close to $150 million, will be used to strengthen LOT's finances. The contract also included an agreement to allow LOT to enter the Swissair-led Qualiflyer Alliance from 1 January.

Aer Lingus in oneworld

Irish flag carrier Aer Lingus was formally selected in December as the ninth member of the oneworld alliance, but no decision has been made on whether American Airlines and British Airways will take an equity stake when the carrier is privatised. Aer Lingus and LanChile expect to join in the middle of 2000.

Iberia IPO delayed to February

As expected, the Iberia initial public offering (IPO) has been rescheduled to the first week of February. However, Iberia's valuation is now estimated to be slightly down on the original c3.48 billion ($3.47 billion) price tag, with sales of land and shares in Amadeus bringing in less cash.

CityBird enters short haul

CityBird of Belgium is acquiring two Boeing 737-400s to establish a European network. The long-haul airline will also add two 737-800s to its fleet in 2001.

Source: Airline Business