Monday, 22 December 2008

Catalan investors buy a part of Spanair

The tourism group Consorci de Turisme de Barcelona and Catalana d'Iniciatives, a private equity group, will buy a part of Spanair, announced the Scandinavian airline operator SAS AB. The Stockholm-based company said it had signed an initial agreement with the Catalan investors. A final agreement is expected by January 31, SAS said. SAS has been trying to sell Spanair, Spain's second-largest airline after Iberia, for more than a year as the carrier struggles to turn a profit amid tough competition and a slumping Spanish economy.