ATW Daily News

Eurofly, Meridiana to merge, become Meridiana Fly

Tuesday November 24, 2009

Eurofly and Meridiana will merge into Meridiana Fly, the Italian carriers confirmed last week. Meridiana already owns 60.7% of Eurofly. The new airline will focus on medium- and long-haul services while "peak" summer and winter short-haul and charter operations will be handled by a newly incorporated company called Meridiana Express that will be part of Meridiana Fly. Deadline for the integration is Jan. 31. "The business combination is the final stage of a business process which commenced in 2007 [with the aim of achieving] significant commercial synergies and quality improvement of services provided," Meridiana said in a statement.

Eurofly reported a net loss of €23.3 million ($34.3 million) in the 2009 first half, widened from a €14.9 million deficit in the year-ago period. Operating revenue fell 12.2% year-over-year to €143 million. Combined passengers carried in scheduled and charter services declined 23% year-over-year in the first six months to 715,959. It currently operates nine A320s and three A330s. Meridiana operates 18 MD-82s and four A319s.

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