OTHER NEWS - April 11, 1992
Air France Rescues Sabena: Air France and Sabena SA signed a partnership deal under which the French flag carrier will acquire a 37.5% stake in the Belgian state-controlled airline. The pact caps yearlong talks and a lengthy search for a savior for Sabena. The deal, worth $122 million, is a crucial rescue package for Sabena, which reported a record $60-million operating profit last year after huge job cuts. Sabena lost $217 million in 1990. The deal will let the two carriers cooperate in the industrial and coommercial fields, maintenance, computer systems, catering and possibly fleet development.
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.
