Enter Air to acquire 49% stake in Germania Flug AG

5 May, 2019

Enter Air entered (03-May-2019) an agreement with Albex Aviation on investment in Germania Flug (Pasazer, 04-May-2019). Pursuant to the provisions of investment agreement, Enter Air will acquire a 49% stake in Germania Flug for USD2 million. Enter Air is expected to receive the shares in mid May-2019. The agreement includes a call option entitling Enter Air or an entity indicated by Enter Air to increase its stake to 80%. Enter Air CEO Grzegorz Polaniecki said: "Entering the German language markets has been one of our target. That is why we were looking for the right entity with an air operator certificate, contracts with travel agencies, airport slots and a professional management team. This Swiss company will provide us with this and will offer us access to the lucrative Swiss tourist flight market and better access to other German language markets where we do not yet have a full blown presence". [more - original PR - Polish]