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Emirates May Be Behind A Bid For Air Comet Rights  
User currently offlineIberiaA319 From Spain, joined Sep 2005, 574 posts, RR: 38
Posted (4 years 6 months 2 weeks 4 days 19 hours ago) and read 6746 times:

As some of you may know, a Spanish group ("Batalla Juanola") is interested in acquiring Air Comet, which shut down last December.

Surprisingly, today El Economista reveals that Emirates may be behind this offer. The Dubai-based airline may be interested in traffic rights to Latin America.

News in Spanish: http://www.eleconomista.es/empresas-...mpra-de-Batalla-por-Air-Comet.html

I just translated these news with Google translate and correcting some words, so I apologize if the translation is not accurate.

Also some other news related in Spanish:
http://www.eleconomista.es/economia/...no-a-diaz-ferran-miedo-nos-da.html

The translation:

Quote:
Emirates is behind the takeover bid for Air Comet

The Dubai-based group is interested in air traffic rights to Latin America

Air Comet agrees to negotiate with Batallajuanola

The puzzle for the possible sale of Air Comet takes shape. The sudden and surprising interest in the airline owned by the Marsans group, which stopped its activities last December has been justified by Batallojuanola: behind the operation could be the giant Emirates Air.

According to sources related with the process, they confirmed to elEconomista that the Dubai-based airline could be the great coat of this operation. Emirates has been one of the airlines that recorded unmayor global growth in recent years and is well known that the European market is considered strategic.

Already in 2008, when it began its flights from Dubai to Sao Paulo, acknowledged his interest in Latin America since the launch flights to Barcelona (cargo flights, I suppose. Acquiring Air Comet would not be a round for the group because it would ensure a connection between Europe and across the Atlantic.

One of the most valuable assets that remain in the drawers of the Marsans airline are the traffic rights with multiple paths across the pond. Arrangements that still remain although Air Comet shut down last December. In addition, the plans announced by the Catalan group would match with the airline of the UAE.

Plans
As stated by Juan Battle, founding partner of the Catalan group, "the idea is to make a private charter company linking Spain and the UAE, in addition to preserving some of the formerAir Comet staff, now unemployed."

At that time, the Catalan group announced that behind the bid submitted by Air Comet was "a foreign airline, non-European, however, Batallajuanola has preferred not to comment on whether or not Emirates. "We have signed a confidentiality agreement and we can not tell who is behind the bid submitted for further hinder negotiations with Air Comet" explained a source close to the company.

The direction of Marsans suspects that a large international carrier is behind the offer but, after being consulted by this newspaper, declared "not know the name of it."

Air Comet Audit

The same sources explained, however, that next Monday or Tuesday, depending on the agendas of the leaders of Batallajuanola and Air Comet, is the date on which the group will attend the Catalan capital for the accounts audit of the airline.

Thus, if as has issued debt in the airline Díaz Ferrán is 160 million euros in its accounts do not see any questionable transaction, possibly the signature of the acquisition to occur shortly. To do this, Air Comet will have to meet a prerequisite, have no personal guarantee or any guarantee institutions abroad. Those are the only two conditions, since even the acceptance by the judge, the bankruptcy would be an insurmountable barrier to close the purchase by Batallajuanola.

The Catalan group and met the requirements of Air Comet to enter into negotiations to provide a guarantee of EUR 800 millions signed by the president of the U.S. fund which has interests in the Dubai-carrier. Specifically, it would be Genevieve Financial Corporation, which represents mutual funds family fortunes in the U.S., Russia and UAE.

Batallajuanola has the support of Edward Fairen, former director of flight operations for Vueling and one of the driving forces behind the creation of this airline. Possibly, if it ultimately closes the purchase of Air Comet, he just managed a department of the airline, as well as support in developing the Business Plan for Air Comet.


[Edited 2010-04-08 00:37:23]

8 replies: All unread, jump to last
 
User currently offlinetalaier From Spain, joined May 2008, 490 posts, RR: 0
Reply 1, posted (4 years 6 months 2 weeks 4 days 18 hours ago) and read 6486 times:

Interesting, so they might create a subsidiary say, Emirates Spain, that flies into all these destinations and creates a scissor hub. Marsans is scrapped for cash so I wouldn't rule it out completely but it does look like wishful thinking.

User currently offlinemigair54 From Spain, joined Jun 2007, 1772 posts, RR: 0
Reply 2, posted (4 years 6 months 2 weeks 4 days 15 hours ago) and read 6034 times:

I think this is crap......only to get some more time on media by the group.......

I can´t see a group like Emirates doing this kind of business.......they don´t need this BatallaJuanola Group to place the bid or to work on their behalf.....

If Emirates is going to open new South America it will be from DXB and not From MAD or BCN.......like they already do with GRU.......

I can´t see the advantage of offer something like PEK-DXB-MAD-LIM or any asian city to DXB then to MAD then to South America........


User currently offlineplanesailing From United Kingdom, joined Jul 2005, 816 posts, RR: 0
Reply 3, posted (4 years 6 months 2 weeks 4 days 8 hours ago) and read 5460 times:

Quoting migair54 (Reply 2):
I can´t see the advantage of offer something like PEK-DXB-MAD-LIM or any asian city to DXB then to MAD then to South America........

But what is the demand for flights from DXB to S.America?

It looks like Emirates realises that demand from S.America primarily comes from Europe, so rather than attempt to fly people for example BCN-DXB-S.America, which would be flying one way to fly the other with Emirates, they will bring their product direct to Europe to fly to S.America. It will probably mean a host of codeshares for connecting into their Spanish base.


User currently offlinekiwiandrew From New Zealand, joined Jun 2005, 8580 posts, RR: 13
Reply 4, posted (4 years 6 months 2 weeks 4 days 7 hours ago) and read 5239 times:
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If I recall correctly a lot of the bilaterals between various Latin American countries and Spain are quite restrictive , if a non-Spanish ( and non-EU ) entity had control of the wreckage of Air Comet I doubt very much whether the resulting carrier would be recognised as a valid carrier to operate under the traffic rights granted under most of those bilaterals , so what exactly would EK supposedly get out of an "investment" of this nature if they couldn't actually utilise the traffic rights ?


Moderation in all things ... including moderation ;-)
User currently offlinemigair54 From Spain, joined Jun 2007, 1772 posts, RR: 0
Reply 5, posted (4 years 6 months 2 weeks 1 day 8 hours ago) and read 4623 times:

Quoting kiwiandrew (Reply 4):
If I recall correctly a lot of the bilaterals between various Latin American countries and Spain are quite restrictive , if a non-Spanish ( and non-EU ) entity had control of the wreckage of Air Comet I doubt very much whether the resulting carrier would be recognised as a valid carrier to operate under the traffic rights granted under most of those bilaterals , so what exactly would EK supposedly get out of an "investment" of this nature if they couldn't actually utilise the traffic rights ?

you´re correct.......

if EK wants to operate the Air Comet routes they need to create a new airline in Spain and after that renegociate all the routes and all the permission.......as you said South America market and traffic rights are quite restrictive........

I really really really doubt very much about this.........mainly because they need to create a new airline in Spain and I think EK is not that kind of airline, they have a big reputation and a business model and Air Comet was a semi-low cost airline........

As I said before just some rubbish to have some free time on media.............


User currently offlinelightsaber From United States of America, joined Jan 2005, 13260 posts, RR: 100
Reply 6, posted (4 years 6 months 2 weeks 1 day 4 hours ago) and read 4343 times:
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Quoting migair54 (Reply 5):

if EK wants to operate the Air Comet routes they need to create a new airline in Spain

Not if it was a Spanish airline a la "Virgin America."

Emirates would bring the 'know how' that would ensure a smooth launch. They would be limited to ownership per Spanish (European?) law. I'm going to guess 25% like the USA, but I'd like to know more.

But by providing seed money and 'know how,' EK would ensure a friendly partner in Spain. A partner that could certainly undercut IB in the cost department. (I know... 'no duh.')    Then a few adroit code shares and EK would have excellent connections to South America; with only 25% of the profit going to them (assuming 25% ownership).

With the right Spanish partners (putting in their own money), EK could gain the political backing they need.

Quoting IberiaA319 (Thread starter):
One of the most valuable assets that remain in the drawers of the Marsans airline are the traffic rights with multiple paths across the pond. Arrangements that still remain although Air Comet shut down last December. In addition, the plans announced by the Catalan group would match with the airline of the UAE.

Interesting proposal. With EK's role in feeding secondary cities to Europe, there might be enough traffic to fill one or two A330's TATL, but no more. So the subsidiary would need to be a money making machine for DXB on its own.

Quoting planesailing (Reply 3):
It looks like Emirates realises that demand from S.America primarily comes from Europe, so rather than attempt to fly people for example BCN-DXB-S.America, which would be flying one way to fly the other with Emirates, they will bring their product direct to Europe to fly to S.America. It will probably mean a host of codeshares for connecting into their Spanish base.

  

If this happens (a big if), it will be interesting.

Lightsaber



Societies that achieve a critical mass of ideas achieve self sustaining growth; others stagnate.
User currently offlineIberiaA319 From Spain, joined Sep 2005, 574 posts, RR: 38
Reply 7, posted (4 years 6 months 1 week 4 days 14 hours ago) and read 3739 times:

According to the website eleconomista.es it appears that Emirates may be really behind a takeover bid for Air Comet:

Letter in English that confirms the interest of the Emirates Group: http://www.eleconomista.es/imag/_v3/...MISTA/Documentos/nota-emirates.jpg

Today's news (in spanish): http://www.eleconomista.es/empresas-...-Batallajuanola-por-Air-Comet.html


User currently offlineThrottleHold From South Africa, joined Jul 2006, 659 posts, RR: 1
Reply 8, posted (4 years 6 months 1 week 4 days 13 hours ago) and read 3559 times:

The Royal Emirates Group is chaired by a member of the Al Maktoum family, but it has nothng to do with Emirates Airlines.

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