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The European Commission’s Directorate General for Competition has issued the necessary authorization in order for Vueling and Clickair to continue their merger process. Such authorisation will allow Vueling to immediately progress towards the latest stages of the integration process.
The merger operation will allow Vueling to double its size, thus becoming the leading airline in its Barcelona and Seville bases, as well as in other Spanish airports, and to immediately reinforce its presence in several international others.
The European Commission authorisation makes possible for both companies’ boards of directors to immediately make further steps in the process. This will allow the two companies to jointly work in the preparation of the commercial program that, in the shortest possible period of time, will make available to the customers a combined offer into the 2009 summer season.
Customers from both companies will thus benefit of an expanded choice within one of the lowest cost-bases in Europe. Improvement of choice will also enhance the possibility to attract new customers.
Vueling’s forecast to reach profitability from 2009 onwards is significantly reinforced with this operation. As it was expressed from the early stages of the merger process, Vueling’s Board of Directors’ intention is to foster a swift execution of every action leading to the integration, so that this is concluded in the shortest possible timeframe. The operation is structured as a union of equals, leading to Clickair’s statutory merge into Vueling, by way of the former’s extinction and the latter’s capital increase. The emerging society’s shares will keep their listing in those stock markets where Vueling shares are currently trading, and will keep its headquarters in Barcelona.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
