Air Nostrum and CityJet have formed the Strategic Alliance of Regional Airlines (SARA), a European regional alliance.
SARA is not a direct merger between Air Nostrum and CityJet, but rather a “holding group” that coordinates individual companies within the alliance.
Air Nostrum’s parent holding, Air Investment Valencia, owns 80pc of SARA’s shares, while CityJet shareholders own the remaining 20pc.
SARA includes other companies such as CityJet A/S, Hibernian, ANEM, ANTO, Air Nostrum Global Services, ARA, and Ard Aer.
Each company within SARA will maintain its independence, brand, and employees, with headquarters remaining in their respective countries.
Air Nostrum CEO Carlos Bertomeu is the new president of SARA, which the company says will be the largest combined regional aviation services group in Europe.
Mr Bertomeu said that “no one is buying anyone” under the revised deal, which the two carriers have been working on for 18 months.
Miguel Ángel Falcón, general manager of SARA and vice president of Air Nostrum said “the alliance is something we have been pursuing for over five years, and we are delighted to make it a reality, after overcoming the pandemic that delayed the process.”
Mr Falcón, said SARA will operate 74 aircraft, including 26 in CityJet. “We expect SARA to expand throughout Europe, reinforcing our collaboration with major European airlines, leading us to grow up to 100 regional aircraft in the next three years,” he added. “We have an open vision, and do not rule out the possibility of executing our growth strategy both organically and through targeted M&A in the future.”
SARA aims to benefit member companies by providing synergies in areas such as aircraft maintenance, crew training, and fleet management. They also have expansion plans to reach a fleet of around 100 aircraft in the next three years.
- Air Nostrum operates a fleet of 26 CRJ1000, 4 CRJ200, and 6 ATR 72. The average age is 10 years and employs 1,450 people. In 2019, before the outbreak of the pandemic, it transported 5.3 million passengers, with an average occupancy rate of 77pc.
- CityJet fleet consists of 21 CRJ900 and 4 CRJ1000 and employs 600 people. In 2019, it transported about 5 million passengers for companies like Aer Lingus, Air France, Brussels Airlines, Hop, Lufthansa, and SAS, but after the pandemic, it shifted its focus to the Scandinavian region, providing services only for SAS.
