Catalan group Iniciatives Empresarials Aeronautiques said on Friday it had bought 80.1 percent of struggling SAS unit Spanair, and would fund the purchase by raising EUR100 million euros through a share issue.
SAS will own the remaining 19.9 percent of the airline and retain Spanair's debt. The airline will be based in Barcelona, the capital of the region of Catalonia.
Saturday, January 31, 2009
Catalan Group Iniciatives Buys Spanair
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