Advertisement

AIRLINES

Share
<i> Times Staff and Wire Reports</i>

Swissair Agrees to Buy Belgian Airline: Swissair has agreed to pay about $230 million for a 49.5% stake in the state-run Sabena. As part of the deal, Sabena will get a capital infusion of $52.9 million from the Belgian government and $70.6 million from a consortium of Belgium investors to help the troubled airline get back on its feet. The link up with Swissair and the government aid are subject to review by the European Union’s Executive Commission to ensure the deal does not violate antitrust laws on competition and state subsidies. EU officials have hinted the deal will be cleared.

Advertisement