European regional airlines CityJet and Air Nostrum have partnered up to create a new regional airline alliance in Europe, named the Strategic Alliance of Regional Airlines (SARA).
In addition to these two airlines, seven other companies have joined the alliance, rounding out the total to nine and making it the largest regional airline group in Europe.
Hibernian, another European regional airline, and ANEM, an aircraft and maintenance MRO, a crew training centre, ANTO, alongside Air Nostrum Global Services, flight support company ARA and broker Ard Aer are the remaining seven companies. Each of these companies will be economically independent and responsible for its own fulfilment of obligations with third parties as part of this alliance.
Carlos Bertomeu, Chief Executive Officer of Air Nostrum, was elected President of SARA. The airline’s shareholders will have an 80% stake in SARA, with CityJet having the remaining 20%.
In a jointly issued press release, Bertomeu explained: “SARA will act as a holding company, assisting and coordinating each of the companies in the alliance, which will continue to be independent entities with their own brand and structures.”
“The alliance is something we have been pursuing for over five years, and we are delighted to make it a reality after overcoming the pandemic that delayed the process,” added Miguel Angel Falcon, General Manager of SARA and Vice President of Air Nostrum.
The new SARA group is reported to employ around 2,500 people.
