Colgan air bought
Northwest Airlink affiliate Pinnacle Airlines is to acquire turboprop operator Colgan Air in a strategic move that gives the US regional carrier access to Colgan's major partners Continental Airlines, United Airlines and US Airways. Under the $20 million deal, Pinnacle will pay $10 million in cash and the remaining $10 million in the form of a one-year note secured by Colgan's stock. "This purchase provides Pinnacle Airlines with two separate platforms for growth," says Pinnacle president and chief executive Philip Trenary. Pinnacle will maintain its Memphis base, and Colgan will be operated separately "with independent and separate management structures".
Air plus comet deal
Air Plus Comet has signed an agreement with the Spanish government to take over the Latin American routes formerly operated by grounded carrier Air Madrid. This follows the announcement last week by German charter operator LTU that it has shelved plans to enter into a similar deal. Air Plus Comet, a subsidiary of Spanish holding company Grupo Marsans, will take on 53% of Air Madrid's workforce, and immediately begin flying stranded Air Madrid passengers to Spain from Argentina, Chile, Colombia, Ecuador and Peru. The carrier will gradually incorporate the remainder of the Latin American destinations formerly operated by Air Madrid into its network.
Source: Flight International
