Portuguese air carrier Air Luxor sold to group of Portuguese-Canadian investors

5 July 2006

Lisbon, Portugal, 05 July – Private Portuguese air carrier, Air Luxor has been sold to a group of Portuguese-Canadian investors, associated to the Longstock Financial Group, the Mirpuri Group said in a statement issued Tuesday.

The sales includes the entire capital of the Air Luxor holding company, which owns Air luxor, Air Luxor STP (Sao Tome) and Air Luxor GB (Guinea Bissau), as well as tour operator, Air Luxor Tours.

the main assets of the Air Luxor group, along with the Airbus aircraft fleet it operates and the contracts associated to them, are the traffic and flight rights to several markets, including Cape Verde, Sao Tome and Principe and Guinea Bissau.

The statement did not mention the value of the sale but indicated that the total turnover of the companies sold was 150 million euros in 2005.

Following the sale, the family-owned Mirpuri Group maintains some assets in the aviation industry, such as airline Hi Fly, which runs charter flights and stakes in handling and airport management companies ALCV, SGAB, Safeport, in the maintenance and engineering company MESA, catering company LSky and in information technology company CPTI.

The Longstock Financial Group is a vehicle for investments in Portugal of a group of Portuguese-Canadian investors led by legal expert Vítor Pinto da Costa.

In a statement the new chairman f the board of Air Luxor, Pinto da Costa said it was a priority to “stabilize and normalize the routes to Guinea Bissau and Sao Tome and Principe” and re-launch charter flight operations, for which it was necessary to acquire a third aircraft.

The new owners of Air Luxor plan to change the company’s name “soon” and re-brand the company’s image, “whilst maintaining the quality of its service.” (macauhub)