Go-Ahead For CityFlyer Deal

20th Jul 1999

British Airways today welcomed the decision by the Secretary of State for Trade and Industry to approve the company`s acquisition of Gatwick-based CityFlyer Express.

The airline will now discuss with the Director General of Fair Trading the right level for the hourly cap of British Airways` slot holding at Gatwick.

The acquisition of CityFlyer Express for £75 million will secure the future of one of British Airways` most successful franchise partners. The deal will also help maintain Gatwick`s position as one of Europe`s leading airports, ensuring the continued profitable development of the airline`s route network.

Roger Maynard, Director of Investments and Joint Ventures, said: “We will be examining today`s decision in detail and are confident that we will agree an acceptable cap with the DGFT. This deal is in the best interest of our customers, the employees of both airlines and the development of Gatwick Airport.”

Brad Burgess, Managing Director of CityFlyer Express, said: ” We look forward to British Airways and the DGFT coming to a swift and sensible agreement so that the acquisition can be finalised as soon as possible. In the meantime our existing and highly successful franchise agreement with British Airways continues and it is very much business as usual for our customers.”




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