TAP buys Portugalia
TAP Portugal has completed a deal to acquire rival Portugalia for €140 million ($179 million) from Portuguese company Grupo Espirito Santo. TAP says if the acquisition is approved by Portuguese authorities as expected Portugalia will maintain its own brand and management autonomy but their schedules will be harmonised.
Hemus to buy Air Bulgaria
The Bulgarian government is selling a 99.99% stake in Bulgaria Air for BGN 13 million ($8.3 million) to Hemus Air. Hermus, a private Bulgarian carrier that also has agreed to invest €65.8 million in the flag carrier, beat out Italy's Air One in the privatisation tender.
BA boosts business class
British Airways is investing £100 million ($190 million) in a new business class product to be rolled out across its Boeing 777 and 747-400 fleets from year-end. The carrier is also increasing the number of business class seats in 31 of its 747-400s to boost business class capacity by 8%.
Source: Airline Business
