Air France-KLM set to acquire VLM Airlines

Panta Holdings B.V., owner of VLM Airlines, has announced it has reached an agreement on terms for the sale of VLM Airlines to Air France-KLM.

Jaap Rosen Jacobson, owner of Panta Holdings, said: “VLM Airlines is a jewel amongst the regional airlines. It has developed from a small airline into the most important player at London City Airport. I am proud about this development and even more about the exiting opportunities ahead for VLM Airlines under the wings of Air France-KLM.“

VLM Airlines is one of Europe's leading regional carriers catering principally for business travellers. The company operates a fleet of 18 Fokker 50 and one BAE 146. London City Airport is the hub for the majority of its flights and therefore VLM Airlines will actively cooperate with the regional carrier CityJet, a 100% subsidiary of Air France, which is already operating out of London City Airport.

Johan Vanneste, Managing Director of VLM Airlines, said: “I’m very excited that VLM Airlines will be part of the Air France – KLM group. It will create value for our customers, as this transaction will ensure them access to the largest number of destinations from London City Airport. The strengths of the Air France – KLM group will provide the necessary support to take the development of VLM Airlines to the next level.”

Mr Geoffrey O'Byrne-White, CityJet's Chief Executive, commented: "We see this as a great opportunity to expand and to offer an optimal product to our customers. Both networks are highly complementary and the new combined network will link London City with major European business and financial centres.”

Panta Holdings B.V. was advised on the transaction by N M Rothschild & Sons Limited. The financial details of the transaction are not disclosed.