Libra’s relationship with Excel Airways could be coming to an end after the operator entered into talks with Air Atlanta about selling its remaining stake in the charter airline.
Air Atlanta, which purchased a 40.5% stake in Excel for nearly £30 million in March, is keen to snap up the majority of Libra’s remaining 39% stake.
If it succeeds, Air Atlanta will be required to make an offer for the remaining shares held by Excel’s management, private investors and institutions, taking the airline private again nearly two years after it first floated on the Stock Exchange.
Although the two companies have not put a price on any possible deal, a City statement released by Excel suggested it will be below its current market value.
The news sent shares in the airline tumbling by a third, down to 110p.
Both Libra and Air Atlanta would not disclose what price would be potentially paid for the 39% stake.
Proceeds from Libra’s previous share sale were used to repay a £15.8 million loan to the airline.
By: by738 - 9th October 2004 at 17:32
They are due to have 2 763’s by next year, although word has it some of there Asian long haul flights have been dropped.
By: by738 - 9th October 2004 at 17:32
They are due to have 2 763’s by next year, although word has it some of there Asian long haul flights have been dropped.
By: green320 - 9th October 2004 at 15:15
Sorry, I can’t answer that question!! I would imagine they will replace TF-ATU with G-VKNG which hopefully will be a bit more reliable.
By: green320 - 9th October 2004 at 15:15
Sorry, I can’t answer that question!! I would imagine they will replace TF-ATU with G-VKNG which hopefully will be a bit more reliable.
By: LBARULES - 9th October 2004 at 13:35
Ah right, will G-VKNG replace TF-ATU or will they have 2 763s next year?
By: LBARULES - 9th October 2004 at 13:35
Ah right, will G-VKNG replace TF-ATU or will they have 2 763s next year?
By: green320 - 9th October 2004 at 13:30
TF-ATU was meant to be G-DAAE since the middle of last year, but never was.
By: green320 - 9th October 2004 at 13:30
TF-ATU was meant to be G-DAAE since the middle of last year, but never was.
By: LBARULES - 9th October 2004 at 13:23
I imagine it will be leased from Air Atlanta. According to Jethros, TF-ATU will be reregistered G-DAAE.
God. never realised so much of Excels fleet was leased. 5 767s, 4 757s from Air Atlanta, 1 738 from South African, one from Miami Air, and some of their flights operated by Air Malta A320s!
By: LBARULES - 9th October 2004 at 13:23
I imagine it will be leased from Air Atlanta. According to Jethros, TF-ATU will be reregistered G-DAAE.
God. never realised so much of Excels fleet was leased. 5 767s, 4 757s from Air Atlanta, 1 738 from South African, one from Miami Air, and some of their flights operated by Air Malta A320s!
By: by738 - 9th October 2004 at 13:16
Will it be Lauda/Austrian via Air Atlanta , or direct to Excel I wonder ?
By: by738 - 9th October 2004 at 13:16
Will it be Lauda/Austrian via Air Atlanta , or direct to Excel I wonder ?
By: green320 - 9th October 2004 at 13:03
Yeah, the 757s (particularly ARD) are tech on a frequent basis. The 767s (ATU in particular) aren’t much better. However, according to Jethros, Excel will be getting a new 767 from Austrian Airlines registered G-VKNG.
By: green320 - 9th October 2004 at 13:03
Yeah, the 757s (particularly ARD) are tech on a frequent basis. The 767s (ATU in particular) aren’t much better. However, according to Jethros, Excel will be getting a new 767 from Austrian Airlines registered G-VKNG.
By: Mark L - 9th October 2004 at 11:54
I think I’d agree with MANAIRPORTMAD actualy, the 757s and 767s are operated by Air Atlanta, whereas the 737s are operated by Excel. As far as I am aware the problems largely lie with the Air Atlanta aircraft rather than the Excel ones.
By: Mark L - 9th October 2004 at 11:54
I think I’d agree with MANAIRPORTMAD actualy, the 757s and 767s are operated by Air Atlanta, whereas the 737s are operated by Excel. As far as I am aware the problems largely lie with the Air Atlanta aircraft rather than the Excel ones.
By: SOFTLAD - 8th October 2004 at 22:58
Bloody kids eh Bmused ? 😉
By: SOFTLAD - 8th October 2004 at 22:58
Bloody kids eh Bmused ? 😉
By: MANAIRPORTMAD - 8th October 2004 at 22:11
thats about the most stupid thing I’ve heard in a long time on these forums.
Oops, sorry. 🙁
By: MANAIRPORTMAD - 8th October 2004 at 22:11
thats about the most stupid thing I’ve heard in a long time on these forums.
Oops, sorry. 🙁
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October 7, 2004 at 9:55 pm