Omega Aero Industries, a subsidiary of the Saudi maintenance group Arabasco, has been appointed by a French commercial court to take over Euralair Industries for €281,000 ($346,000). The Saudi company, which will inject a further €2.8 million into Euralair Industries, was the only candidate interested in the maintenance branch of the Euralair group, which filed for bankruptcy in November 2003. The other two branches of the group, charter airline Euralair Horizons and business aircraft operator Euralair International, have been taken over by UK company Angel Gate.
Source: Flight International
