Corsair formalization of a proposed acquisition by the Group Dubreuil – Boursorama

Corsair formalization of a proposed acquisition by the Group Dubreuil – Boursorama

The TUI logo photographed at Berlin airport (AFP / File / Lukas Kreibig)

The proposed acquisition of the company Corsair International (TUI France ) by the Dubreuil group, a shareholder of Air Caribbean, was formalized on Sunday night by the two groups.

“An extraordinary works council (CEC) is convened on February 19 (Thursday) to open information for the consultation of the Corsair works council on the company’s proposed acquisition of the Corsair International Dubreuil group, “announced the two groups in a brief joint statement.

The family group Vendée Dubreuil will present his project to the CEC Corsair International Thursday.

The amount of the investment and its terms were not disclosed.

When asked by AFP, the TUI France Dubreuil groups have declined to comment before a press conference to be held Friday in the presence of Jean-Paul Dubreuil, Chairman of the Group of the Supervisory Board and Air Caribbean, Marc Rochet, CEO of Air Caribbean and Pascal de Izaguirre, President of TUI France and CEO of Corsair.

On February 1, a source familiar with the matter indicated AFP exclusive negotiations between TUI France and aerial specialist. The online daily latribune.fr then evoked Air Caribbean.

Air Caribbean Corsair International are already linked since 2012 by a trade agreement, known as “code-sharing” on lines serving the Caribbean and Indian Ocean.

Their reconciliation within the same group Dubreuil would mark the beginning of a consolidation of the sector need these particularly competitive geographic areas suffering from overcapacity with the presence of two other actors, Air France and XL Airways.

Air Caribbean, number two behind Air France on routes between France and the West Indies, records year after year with positive results.

Marc Rochet had told AFP in December that the company would once again largely profitable in 2014. Except for 2011, the company has always recorded positive accounts since 2003, the result of strict management Dubreuil group.

The economic situation is more difficult for Corsair International.

The company TUI tourism group, which included a return to balance in 2013 / 14 (ending September), had finally dug its operating loss under the combined effect of a deteriorating economic environment, a competitive industry and health crises (Chikungunya the Caribbean and Ebola in Africa).

It recorded an operating loss of 7 million pounds ($ 8.9 million), down 6 million pounds ($ 7.6 million) compared to last year.

However, she announced on February 10 have improved its operating profit in the first quarter 2014/2015 (October-December) due to an increase in revenue and occupancy rate of its aircraft improving.

In the first ten months of 2014, Corsair owned 22% market share in traffic between the metropolis and the Caribbean behind Air France (43%, almost stable), Air Caribbean (30%, +2 points ) and ahead XL Airways (5%, -2.5 points).

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