Air Nostrum and CityJet finally unite – but not through merger

The long-awaited tie-up between Air Nostrum and CityJet has finally been confirmed.The two carriers will not merge as previously discussed; instead, a holding group known as the Strategic Alliance of Regional Airlines (SARA) will be formed, with Air Nostrum parent Air Investment Valencia taking an 80% stake and CityJet owner CF Miga Investment Holdings taking 20%. SARA will also include Air Nostrum subsidiary Hibernian Airlines, the Copenhagen/Kastrup-based CityJet A/S, MRO company ANEM, ANTO crew training unit, corporate services firm Air