Belgian entrepreneur Victor Hasson is seeking new investors for the recently launched City Bird long-haul airline, to reduce the controlling 58%share held by his City Hotels group.
Hasson launched the City Bird concept in 1996, after selling control of EuroBelgian Airlines (EBA), the low-fare European carrier now operating as Virgin Express. The remainder of City Bird shares are in the hands of a Luxembourg-registered company, led by the airline's chief executive, Georges Gutelman, who was also involved with EBA.
Hasson now wants to reduce the City Hotels stake and bring in new funds to add to the BFr158 million ($4.5 million) start-up capital. City Bird launched scheduled services in March to Mexico and to Miami and Orlando in Florida, as well as to the Dominican Republic, with a leased McDonnell Douglas MD-11. Most seats offered are bought by tour-operator Neckerman. A second MD-11 is to follow in June as Los Angeles, New York Newark and San Francisco are added.
Source: Flight International
