Prior notification of a concentration (Case M.9287 — Connect Airways/Flybe) (Text with EEA relevance.)
Date: 2019-05-20
Institutions: European Commission
Subjects: air transport, carriage of passengers, consultancy, economic concentration, financial services, merger control








C_2019171EN.01002401.xml










20.5.2019   


EN


Official Journal of the European Union


C 171/24






Prior notification of a concentration
(Case M.9287 — Connect Airways/Flybe)
(Text with EEA relevance)
(2019/C 171/07)

1.   
On 14 May 2019, the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1).
This notification concerns the following undertakings:






—


Virgin Atlantic Limited (‘Virgin Atlantic’, United Kingdom),










—


Cyrus Capital Partner L.P. (‘Cyrus’, USA),










—


Stobart Group Limited (‘Stobart Group’, Guernsey),










—


Flybe Group plc (‘Flybe’, United Kingdom).




Virgin Atlantic, Cyrus and Stobart Group acquire, through Connect Airways, within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of Flybe and its trading subsidiaries, Flybe Limited and Flybe.com Limited. Virgin Atlantic, Cyrus and Stobart Group also acquire, through Connect Airways, within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of Propius Holdings Ltd, Stobart Aviation Limited’s aircraft leasing business, as well as an interest in Stobart Aviation’s airline operating business, Stobart Air Unlimited Company.
The concentration is accomplished by way of purchase of shares.


2.   
The business activities of the undertakings concerned are:
—   for Virgin Atlantic: the ultimate holding company of international passenger airline Virgin Atlantic Airways and international tour operator Virgin Holidays. Virgin Atlantic is currently controlled by Virgin Group and Delta Air Lines. On 12 February 2019, the Commission cleared unconditionally the proposed acquisition of joint control by Virgin Group, Delta Air Lines and Air France-KLM over Virgin Atlantic,
—   for Cyrus: an investment adviser which manages over USD 4,4 billion globally and is an investor in public and private airlines,
—   for Stobart Group: operates in aviation and infrastructure markets, including operating regional airline Stobart Air and developing London Southend Airport,
—   for Flybe: a UK regional airline which focusses on short-haul, point-to-point flying.


3.   

On preliminary examination, the Commission finds that the notified transaction could fall within the scope of the Merger Regulation. However, the final decision on this point is reserved.



4.   
The Commission invites interested third parties to submit their possible observations on the proposed operation to the Commission.
Observations must reach the Commission not later than 10 days following the date of this publication. The following reference should always be specified:
M.9287 — Connect Airways/Flybe
Observations can be sent to the Commission by email, by fax, or by post. Please use the contact details below:





Email: COMP-MERGER-REGISTRY@ec.europa.eu




Fax +32 22964301




Postal address:




European Commission




Directorate-General for Competition




Merger Registry




1049 Bruxelles/Brussel




BELGIQUE/BELGIË







(1)  OJ L 24, 29.1.2004, p. 1 (the ‘Merger Regulation’).