Sponsor Message:
Civil Aviation Forum
My Starred Topics | Profile | New Topic | Forum Index | Help | Search 
Longstock (Air Luxor) Buys Aerocondor  
User currently offlineBuyantUkhaa From Mongolia, joined May 2004, 3040 posts, RR: 3
Posted (9 years 3 months 3 weeks 1 day 2 hours ago) and read 3184 times:

Surprised this didn't come up earlier, but one week ago the Longstock financial group took a 85,15% stake in Aerocondor, the airline that flies Lisbon-Vila Real-Bragança and until recently, Funchal Porto Santo.

This take-over is very interesting, because Longstock is the owner of Air Luxor that had its license revoked by INAC, the Portuguese aviation authority, last summer, for failing to pay its aircraft lessors. Longstock is a Portuguese-Canadian special purpose vehicle allegedly related to the Mirpuri family, who used to own Air Luxor outright and still do own HiFly.

Source: http://diarioeconomico.sapo.pt/edici...empresas/pt/desarrollo/733537.html

Victor Brito disse que a empresa tem cerca de 150 trabalhadores e declarou-se convencido de que a Longstock irá respeitar as leis laborais, recusando-se a comentar o que se passou na Air Luxor, onde a grande maioria dos trabalhadores foi despedida.

([Aerocondor president] Victor Briso said that the company has about 150 employees and said he was convinced that Longstock will observe the labour laws, but refused to comment on what happened at Air Luxor, where the vast majority of employees was fired.)

The article says the owner of Aerocondor, apparently the oldest privately owned airline on the Iberian peninsula, wanted to retire but none of his three pilot sons were available for the job. He then agreed to sell the airline to Longstock. This would be a very interesting twist to the Longstock saga, although not entirely unexpected - rather than to start an airline from scratch and apply for an AOC, buy an existing one. Remember their 3x2.com plan? They said they expected to be licensed by last December. Well, it might be they weren't far off...

See also an earlier thread Air Luxor To Be Reincarnated As Fly3x2.com (by BuyantUkhaa Nov 2 2006 in Civil Aviation)

So would Fly3x2.com be allowed operate under Aerocondor's license? Let's watch what INAC will be doing....

I find this move puzzling, because if they didn't have money to keep Air Luxor afloat, how can they now take over Aerocondor???

I scratch my head, therefore I am.
1 replies: All unread, jump to last
User currently offlineBx737 From Ireland, joined Sep 2001, 738 posts, RR: 3
Reply 1, posted (9 years 3 months 3 weeks 1 day 2 hours ago) and read 3173 times:

This is an interesting development. I, too, thought Air Luxor were in financial turmoil and were unable to keep going. IIRC this was also tied up with HiFly.

Regarding the license, the Aerocondor license is a valid and active one and could be used by its new owners to operate an airline.

Top Of Page
Forum Index

This topic is archived and can not be replied to any more.

Printer friendly format

Similar topics:More similar topics...
Status Of HiFly/AIR Luxor posted Sat Oct 14 2006 12:24:40 by Debonair
Iran Air Tours Buys Tu-204-100 posted Thu Sep 28 2006 22:24:41 by Tu204
Hifly/Air Luxor : End Of The A320s posted Wed Sep 20 2006 11:25:14 by FCKC
Air Luxor Planes Impounded, License May Be Revoked posted Fri Sep 8 2006 19:48:26 by BuyantUkhaa
Air Berlin Buys DBA posted Thu Aug 17 2006 07:17:19 by Columba
Air Luxor Sold To Long Stock Financial posted Tue Jul 4 2006 17:36:28 by FlyPEGASUS
EuroAtlantic Airways (MMZ) In Bid To Buy Air Luxor posted Thu Feb 2 2006 20:00:50 by Photolppt
Sale Files For Air Luxor Bankruptcy posted Thu Dec 15 2005 18:45:29 by TP777
Air Luxor Aircraft (A330) In SYD posted Wed Nov 2 2005 05:32:05 by VH
HiFly (Air Luxor) To Begin JFK Flights posted Mon Oct 31 2005 17:33:47 by B742