PEORIA, Ill., July 19, 2019 /PRNewswire/ — Pioneer Railcorp (OTC: PRRR, “Pioneer”), a railroad holding company that owns short-line railroads and several other railroad-related businesses including a railroad equipment company and a contract switching services company, today announced that its shareholders have approved the previously announced definitive merger agreement with BRX Transportation Holdings, LLC (“BRX”), an entity formed by Brookhaven Rail Partners (“Brookhaven”), Related Infrastructure (“Related”) and Stephens Capital Partners LLC (“Stephens”). The proposal to approve the merger agreement and the transactions contemplated thereby was approved with voting results as follows:
Under the terms of the merger agreement, BRX will acquire through merger all of the outstanding shares of Pioneer’s Class A common stock. Shareholders other than Heartland will receive $18.81 per share in cash and the Heartland shares will be cancelled without consideration.
Consummation of the merger remains subject to various closing conditions, including operating performance by Pioneer within a specified working capital floor and debt ceiling. Subject to satisfaction of the closing conditions, the transaction is expected to close in late July 2019. Upon closing of the transaction, Pioneer will become a wholly-owned subsidiary of BRX and its Class A common stock will cease trading on the OTC Markets.
Arnold & Porter is acting as legal advisor to BRX in this transaction. BMO Capital Markets is serving as exclusive financial advisor to Pioneer in connection with this transaction and Briggs and Morgan, P.A. is acting as Pioneer’s legal advisor.
About Pioneer Pioneer Railcorp is the parent company of 15 short-line common carrier railroad operations, an equipment leasing company, two service companies and a contract services switching company. Pioneer and its subsidiaries operate in the following states: Alabama, Arkansas, Georgia, Illinois, Indiana, Iowa, Kansas, Michigan, Mississippi, Ohio, Pennsylvania and Tennessee. For more information on Pioneer, please visit www.Pioneer-Railcorp.com
About Brookhaven Brookhaven Rail Partners is an affiliate of Denver-based Brookhaven Capital Partners, a privately held, real estate and infrastructure investment and management firm. Brookhaven and its principals have a 25-year track record of investing in, operating and developing critical transportation assets that support industry, and promote new economic development, community investment, and job creation. For more information on Brookhaven, please visit www.BrookhavenPartners.com
New renderings showcase light-filled, environmentally sustainable concourse offering views of Citi Field and Flushing Bay.
New York favorites Birch Coffee, H&H Bagels and Juice Press among featured dining options from OTG.
Construction to date features 2,000 tons of steel, 50,000+ cubic yards of concrete, 40+ miles of piping, cabling and other infrastructure.
As summer begins, Delta teams are already looking ahead to the fall – and to celebrating the next major milestone in the airline’s history of investment in New York and at LaGuardia Airport.
The first of four concourses that will comprise Delta’s new state-of-the-art terminal at LGA is scheduled to open this fall, furthering the airline’s commitment to enhancing the New York customer experience from ground to air. The spacious 105,000-square-foot concourse will feature floor-to-ceiling views of Citi Field and Flushing Bay, gates that can accommodate a range of aircraft types, and dining options from favorite New York chefs and eateries.
“The historic infrastructure project underway at LaGuardia is a significant component of the more than $12 billion Delta is currently investing in airport redevelopment efforts around the country,” said Delta CEO Ed Bastian. “Our customers and employees are excited to see the LaGuardia of the future more fully come into view. Many thanks to everyone who has been working hard to launch an exciting new era for Delta in New York.”
“This new milestone in LaGuardia’s transformation brings us another step closer in converting the airport into a superb flight hub in line with New York standards,” said New York Governor Andrew M. Cuomo. “Our collaboration with Delta in the development of this concourse and their new LaGuardia terminal is another demonstration of the effectives of public-private partnerships at work to modernize our state’s infrastructure.”
Delta operates more than 275 peak-day departures from its LGA hub and began construction of a $3.9 billion replacement of Terminals C and D in 2017, building on the airline’s extensive investment in New York airports over the past decade. When complete, the new terminal will feature 37 gates across four concourses connected by a centralized check-in lobby, security checkpoint, and baggage claim; dual taxiways that will help reduce hold outs and taxi times; a new, larger Delta Sky Club with a Sky Deck; larger gate areas and more concessions space; and more efficient airport roadways.
The large airport infrastructure project supports the significant investments Delta has also made in the skies to provide more consistency, comfort and convenience on flights to and from New York. The airline has added thousands more flights on new aircraft in the market and offers more seatback entertainment and more first class seats than any other airline out of New York City.
New dining options highlight star-powered chefs, favorite flavors of New York
Delta has again partnered with airport hospitality group OTG to bring chef-driven dining options and authentic local flavors to the new concourse. Chef Mark Iacono of Brooklyn’s Lucali consulted on Rossi Pizzeria, a Neapolitan-style pizza and calzone concept; and chefs Jess Shadbolt and Clare de Boer of King Restaurant in Soho consulted on Flatiron Tavern & Provisions, a contemporary tavern that will feature chops, burgers and fresh fish. OTG will also be introducing New York favorites Birch Coffee, H&H Bagels and Juice Press. To ensure dining offerings are relevant throughout the day, the H&H Bagels outpost – available in the morning – will transition to Rossi Pizzeria in the afternoon and evening. Each of the full-service concepts will place power outlets and USB ports at every seat, along with tablets allowing customers to track their flight, browse the web, play games, and order food, drinks and amenities.
“OTG is thrilled to have partnered on such an important project for Delta, its customers and employees, and really the city of New York,” said Rick Blatstein, OTG CEO. “The dining options we’re introducing at these dynamic concepts reflect the best of what’s available in our city, offering Delta’s LaGuardia customers the flavors we love and appreciate as New Yorkers.”
Meanwhile, Stellar Partners, Inc., a wholly-owned subsidiary of HMSHost, will design retail options for the new facility that provide a wide selection of travel essentials.
“We are very pleased to be part of Delta’s elevated and differentiated concessions program at LaGuardia Airport,” said Padraig Drennan, Stellar President & CEO. “This is truly a visionary program that will change the airport experience for New Yorkers and visitors to the city, and we could not be more excited to partner with Delta in making this vision a reality.”
Concourse construction, highlighted by unique and sustainable attributes, enters final phase
As final preparations continue for the opening of the new concourse, Delta teams recently installed passenger boarding bridges at the gates and energized the facility with permanent power. They’ve also been paving the aircraft ramp areas, testing building systems, and constructing the temporary pedestrian walkway that will connect the new concourse to Delta’s existing Terminal D. The security checkpoint in Terminal D will expand to support both concourses until the centralized check-in lobby opens in late 2021.
The new facility features a 12-megawatt Con Edison substation, which is integrated into the upper level of the concourse, providing power for the new terminal. Additionally, all major electrical and mechanical equipment is housed on the upper level to protect such systems from water damage in the event of a major storm. The concourse also features an ice-generation system that reduces electrical consumption at times of peak demand by creating ice at night, when energy demand is lower, and using it to cool the building during the day.
The opening of Delta’s first new gates represents another step forward in the comprehensive $8 billion redevelopment of LaGuardia Airport announced by Governor Cuomo in 2015. Under the governor’s plan, old facilities are being demolished only as new facilities are completed, enabling the airport – which services 30 million passengers each year – to remain fully operational as the multi-phased construction project continues. To date, Delta’s construction features 2,000 tons of steel, more than 50,000 cubic yards of concrete, and more than 40 miles of piping, cabling and other infrastructure.
Delta has invested more than $7 billion in airport projects since 2006, and along with its airport partners, will be involved in an additional $12 billion worth of facilities infrastructure projects in coming years, including improvements in Atlanta, Los Angeles, New York, Salt Lake City and Seattle.
LE BOURGET, France, June 19 (Reuters) – Wizz Air will use 20 new extended-range, narrow body Airbus jets primarily to connect existing destinations in its disparate network rather than to fly to new places, the budget airline’s Chief Executive Jozsef Varadi said on Wednesday.
Indigo Partners, the private equity firm of veteran low-cost airline investor Bill Franke, agreed on Wednesday to acquire 50 of the new long-range version of Airbus’ A321neo jet, 20 of which will go to Wizz.
Wizz, which operates a fleet of 113 Airbus A320 and Airbus A321, would not need to change its operating model to accommodate the new A321XLR jets, Varadi said, as it would be able to fly essentially the same planes a little longer.
“Our network spans from the Canary Islands to Astana in Kazakhstan, from Reyjavik in Iceland to Dubai,” Varadi told Reuters after the announcement at the Paris Airshow.
“The XLR gives use the opportunity to connect more dots in our existing network. This is what we’re looking at.”
Airbus opened the Paris Airshow with the launch of the A321XLR, but the announcement was overshadowed on Tuesday when Boeing said British Airways-owner IAG intended to order 200 of its grounded 737 MAX jets.
Hungary-based Wizz, which is focussed on central and eastern Europe, said it had used existing option positions to secure the deal for the A321XLRs, bringing the airline’s total of outstanding firm orders for Airbus aircraft to 276 jets.
Varadi said that in the longer term, it was possible the jet would help open routes to new destinations, but it was not a priority.
“We have always been excited about planting new flags in new territories,” Varadi said. “But the vast majority of the XLR capacity will come in existing markets.”
(Reporting by Alistair Smout; Editing by Mark Potter)
PARIS (Reuters) – Airbus has broken records by launching the longest-range narrow-body jetliner at the Paris Airshow, but planemakers are having to rethink their mantra on comfort as they squeeze ever more miles out of jets designed for shorter trips.
Airbus and Boeing have been promoting new carbon-fibre long-haul aircraft such as the 787 Dreamliner and A350, which offer roomier cabins and help passengers avoid jet lag by providing a cabin pressure closer to that felt on the ground.
But they have also been adding more range and capacity to older and narrower models such as the A320neo family and the 737 MAX as airlines demand more flexibility with the advantages of highly efficient single-aisle planes, supporting low fares.
Airbus pushed that further on Monday by adding a longer stride to the A321neo with its new A321XLR, whose range of 4,700 nautical miles leapfrogs the out-of-production Boeing 757 and nudges it into the long-jump category enjoyed by wide-body jets.
It also eats into a range category targeted by a possible new mid-market twin-aisle jet, the NMA, under review by Boeing.
But there is a debate over whether passengers will enjoy flying longer distances in medium-haul planes, or at what price.
Airline bosses on the long-haul low-cost panel at the Paris Air Forum on Friday differed over whether extended-range narrow-body jets or wider twin-aisles were best suited for their growing industry.
In particular, the rise of the single-aisle long-distance jet involves revisiting years of industry marketing about the benefit of escaping jet lag and fatigue on long trips.
Aircraft cabins are pumped to a higher pressure than the ultra-thin outside air at cruising altitude. But the pressure is still lower than at sea level due to structural limitations.
That’s not a problem for shorter trips but travel experts say the higher altitude setting on older planes can contribute to jet lag on long flights, worsening the effect of time zones.
WELL BEING
Although Airbus stresses the 1980s-designed A320 fuselage is wider than the competing 737 MAX and therefore has roomier seats, it also has a lower cabin pressure than modern long-haul alternatives like the Boeing 787 Dreamliner or Airbus A350.
On those airplanes the cabin is pressurised at a level equivalent to 6,000 feet compared with 8,000 feet for the A320 and most other metal-built jets of all sizes.
For the Airbus A330neo wide-body jet the cabin altitude is above 7,000 feet but still below 8,000 feet.
“XLR cabin pressure could be an issue,” said an airline executive who has studied the plane, asking not to be named.
The company itself set out the disadvantages of flying with a high cabin altitude on long journeys when it launched the business-jet version of the A320neo family in 2015.
“A lower cabin altitude makes most sense on long flights, especially towards their end, when an aircraft is able to reach its highest cruising altitude,” Airbus said then on its website.
For the business jet version, Airbus was able to lower the cabin altitude below 6,400 feet. But it could only do so by reducing the maximum number of trips, which matters relatively little to luxury operators but is less attractive to airlines.
That said, cabin pressure is one of many factors influencing the feel of a cabin and is rarely marketed separately.
“Everyone is pushing the ‘well being’ trend … but an A321XLR will arguably be more comfortable than a 9-abreast Boeing 787,” passenger experience expert John Walton said, referring to denser seat configurations used by some airlines.
Placing the first order for the XLR, leasing magnate Steven Udvar-Hazy, executive chairman of Air Lease Corp, said: “We are working on a number of improvements in the cabin to accommodate long-haul operations”.
The A321XLR is expected to be able to fly around eight hours in most cases, linking U.S. eastern cities deep into Europe.
The head of International Airlines Group’s low-cost long-haul carrier Level, Vincent Hodder, told the Paris Air Forum the XLR could be configured to fly as long as 10 hours. Level and others are studying it, he said.
Airbus is chasing potential customers including American Airlines and JetBlue for the XLR and aims to grab up to 200 orders. It is expected to announce a deal with U.S. airline investor Indigo Partners later this week.
(Reporting by Tim Hepher, Editing by Louise Heavens and Mark Potter)
NEW YORK (Reuters) – A helicopter made a crash landing onto the roof of a midtown Manhattan skyscraper on Monday, killing at least one person and sending a plume of smoke skyward from the top of the building. The person deceased is “presumed” to be the pilot.
The crash occurred shortly before 2 p.m. (1800 GMT) on a rainy, foggy day at the 750-foot (229m) AXA Equitable Center at 787 Seventh Avenue. Dozens of emergency vehicles swarmed the busy area, a few blocks north of Times Square.
The chopper took off from a heliport on Manhattan’s east side and crash-landed on the building 11 minutes later, emergency officials said.
The site is about half a mile from Trump Tower, where U.S. President Donald Trump maintains an apartment. The area has been under a temporary flight restriction since his election in November 2016.
Nathan Hutton, who works in information technology for the French bank BNP Paribas on the 29th floor, said the building shook when the helicopter slammed into the roof.
“It felt like you were just standing there, and someone takes their hand and just shoves you,” he said. “You felt it through the whole building.”
The Federal Aviation Administration said in a statement that the aircraft was an Agusta A109E, a twin-engine, lightweight helicopter. The pilot was the only person aboard, and FAA air traffic controllers did not handle the flight, according to the agency.
The National Transportation Safety Board will investigate the cause of the crash, the FAA said.
Melvin Douglas, 50, who was selling umbrellas on the street, said he heard a “rumble” when the helicopter crash landed.
“I didn’t see it, but I felt it,” said Douglas. “Smoke was on top of the building.”
A fire that broke out on the roof was quickly brought under control, the fire department said. The building was evacuated after the crash.
Trump called New York Governor Andrew Cuomo, who was at the scene soon after the crash, to offer assistance if needed, the governor’s office said.
“Phenomenal job by our GREAT First Responders who are currently on the scene,” Trump said on Twitter after being briefed on the crash. “The Trump Administration stands ready should you need anything at all.”
The AXA Equitable Center was built in 1985 and includes more than 50 floors. A roof helipad is not listed as one of the building’s amenities on its website.
In addition to BNP Paribas, the building houses offices for a number of other corporate tenants, including law firms Willkie Farr & Gallagher and Sidley Austin and investment manager New Mountain Capital. Le Bernardin, one of New York City’s most celebrated restaurants, is also located in the AXA building.
The skyscraper is managed by the Los Angeles-based CommonWealth Partners. Reached by telephone, LeAnn Holsapple, the office manager for CommonWealth, said the company had “no comment at this time.”
Helicopters are a regular sight in the air around Manhattan, and they have occasionally been involved in crashes.
Nearly a month ago, a chopper crashed into the Hudson River in New York City shortly after taking off from Manhattan, injuring two people. A sightseeing helicopter went down in New York City’s East River in March 2018, killing five passengers.
Reporting by Gabriella Borter; Additional reporting by Peter Szekely and Jonathan Allen; Writing by Joseph Ax; Editing by David Alexander and Bill Rigby
SEATTLE, June 5, 2019 /PRNewswire/ — It’s the place Alaska Airlines’ guests said they want to fly to the most from Everett: Palm Springs.
So Alaska is making it happen.
Starting Nov. 5, you’ll be able to fly nonstop with us between Everett and Palm Springs every day of the week – just in time for the Coachella Valley’s popular winter travel season. You can buy your Alaska Airlines tickets now.
Alaska Airlines and its regional partners fly 46 million guests a year to more than 115 destinations with an average of 1,200 daily flights across the United States and to Mexico, Canada and Costa Rica. With Alaska and Alaska Global Partners, guests can earn and redeem miles on flights to more than 900 destinations worldwide. Learn about Alaska’s award-winning service at newsroom.alaskaair.com. Alaska Airlines and Horizon Air are subsidiaries of Alaska Air Group (NYSE: ALK).
SOURCE Alaska Airlines
For further information: Media Relations, (206) 304-0008
SEOUL (Reuters) – JetBlue Airways Corp is in discussions with Airbus SE about the European planemaker’s plans for a longer-range version of its A321neo family as it prepares to jump into the transatlantic market, Chief Executive Robin Hayes said on Monday.
The sixth-largest U.S. carrier has 85 A321neo aircraft on order, of which it has already decided to convert 13 into a longer-range version called the A321LR for its planned launch of daily flights from New York and Boston to London in 2021.
But if the low-cost carrier decides to fly to other European cities such as Brussels or Amsterdam, it will need a plane with more stamina. It is studying the A321XLR, which Airbus has been promoting ahead of a formal product announcement in June.
“London is the biggest opportunity because it has the highest fares, but there would be other opportunities if we had an airplane that had more range. The XLR gives us more range,” Hayes said on the sidelines of a global airlines meeting in Seoul.
“We’re still working through how many aircraft it would be (but) any XLRs would be linked to the planes we have on order today,” he told Reuters in an interview, adding any purchases would be converted from existing orders rather than generating completely new ones. No decision has yet been taken.
JetBlue is betting on its Mint business class product for narrowbody aircraft to succeed in the highly competitive premium transatlantic market. As of now, its U.S. customers have to fly to London on rival carriers where business class seats can cost as much as $12,000.
In the United States, JetBlue has argued that its Mint seats have driven a 50 percent decline in premium fares on some competing routes, and by sticking with narrowbody jets Hayes believes seats will be full.
U.S. carriers like American Airlines Group Inc and United Airlines service London with widebody aircraft that Hayes said can be tough to fill during off-peak travel.
“The transatlantic market is very seasonal. In the summer you tend to do very well but in the winter you’re flying a bunch of empty seats, so the LR helps us manage significantly the risk of the winter because we’re not flying such an expensive airplane.”
A handful of Europe-based budget carriers have tried to penetrate the transatlantic market in recent years, but only cash-strapped Norwegian Air is still standing.
Hayes said he expects to work on code-share agreements with partners that have a strong presence in Europe, where the airline wants to eventually build up its brand.
A number of JetBlue’s 50 airline partners have already reached out, he said.
(Reporting by Tracy Rucinski; Editing by Tim Hepher, Christopher Cushing)
PEORIA, Ill., May 17, 2019 /PRNewswire/ — Pioneer Railcorp (OTC: PRRR, “Pioneer”), a railroad holding company that owns short-line railroads and several other railroad-related businesses including a railroad equipment company and a contract switching services company, and BRX Transportation Holdings, LLC (“BRX”), an entity formed by Brookhaven Rail Partners (“Brookhaven”) and Related Infrastructure (“Related”), announced entry into a definitive merger agreement under which BRX will acquire Pioneer for $18.81 per share in cash. The agreement, which has been unanimously approved by Pioneer’s independent directors, represents a premium of approximately 100.7% over Pioneer’s closing stock price on May 16, 2019, the last trading day prior to the announcement of the transaction.
“We look forward to this next chapter in Pioneer’s journey and anticipate it will have a bright future under new ownership,” said Mike Carr, President and Chief Executive Officer of Pioneer.
“We are excited to partner with Related Infrastructure and to have worked with Pioneer’s management and board on a transaction that brings great value to its shareholders, its customers, and the communities it serves. Pioneer fits perfectly with Brookhaven’s philosophy of identifying opportunities where our hands-on management expertise, proprietary value creation strategies, and deep industry relationships provide us with a competitive advantage and the ability to create value,” said Alex Yeros, Principal of Brookhaven.
Related Infrastructure, a subsidiary of Related Fund Management which has raised over $5 billion of capital across a variety of different investment vehicles and strategies, invests in companies that develop, operate and service transportation infrastructure throughout the United States. Andrew Right, Managing Partner of Related Infrastructure said, “We are pleased to partner with Brookhaven to build a rail-based infrastructure platform. We appreciate the work Mike Carr and his team have done to create the Pioneer portfolio of rail businesses. We look forward to working with Alex and the entire team at Brookhaven, an industry leading team with over 25 years of experience building businesses in the short-line rail industry to further drive expansion of the platform.”
Under the terms of the merger agreement, BRX will acquire through merger all of the outstanding shares of Pioneer’s Class A common stock. Shareholders other than Pioneer’s subsidiary, Heartland Rail Investments LLC, will receive $18.81 per share in cash and the Heartland shares will be canceled without consideration.
In connection with the execution of the merger agreement, certain stockholders of Pioneer, together holding a significant portion of the outstanding shares of common stock of Pioneer, have agreed to vote their shares in favor of the transaction under a voting and support agreement.
The consummation of the merger is subject to various closing conditions, including approval by Pioneer’s shareholders, Surface Transportation Board approval, and operating performance by Pioneer within a specified working capital floor and debt ceiling. The merger is not subject to a financing condition. Subject to satisfaction of the closing conditions, the transaction is expected to close in the third quarter of 2019.
Arnold & Porter is acting as legal advisor to BRX in this transaction. BMO Capital Markets is serving as exclusive financial advisor to Pioneer in connection with this transaction and Briggs and Morgan, P.A. is acting as Pioneer’s legal advisor.
About Pioneer Pioneer Railcorp is the parent company of 17 short-line common carrier railroad operations, an equipment leasing company, two service companies and a contract services switching company. Pioneer and its subsidiaries operate in the following states: Alabama, Arkansas, Georgia, Illinois, Indiana, Iowa, Kansas, Michigan, Mississippi, Ohio, Pennsylvania and Tennessee. For more information on Pioneer, please visit: http://www.Pioneer-Railcorp.com
About Brookhaven Brookhaven Rail Partners is an affiliate of Denver-based Brookhaven Capital Partners, a privately held, real estate and infrastructure investment and management firm. Brookhaven and its principals have a 25-year track record of investing in, operating and developing critical transportation assets that support industry, and promote new economic development, community investment, and job creation. For more information on Brookhaven, please visit: http://www.BrookhavenPartners.com
LONDON (Reuters) – The chief executive of British Airways owner IAG ruled out bidding for Thomas Cook’s airline unit on Friday, a day after rival Virgin Atlantic was reported to be interested in part of the business.
Lufthansa and private equity fund Indigo Partners are seen among the front-runners for Thomas Cook’s airlines after the firm put it up for sale in February, to raise cash after a string of profit warnings in 2018.
IAG had previously been linked with the business, but on Friday, Chief Executive Willie Walsh said that his firm had not made a bid.
“In relation to Thomas Cook… we’re not putting in any bid,” Walsh told reporters.
He added in an analyst call later in the day that the firm was not actively pursuing M&A at the moment but was in a strong position to do so if something attractive came up.
Virgin Atlantic has put in a preliminary offer for the tour operator’s UK long-haul business, Sky News reported on Thursday. Thomas Cook and Virgin Atlantic both declined to comment on the report.
Lufthansa is a bidder for Thomas Cook’s German airline Condor with an option to acquire the remaining airlines of the British travel group, Lufthansa’s CEO said on Tuesday.
Indigo Partners is also a likely suitor for Thomas Cook’s airline business, sources said last week, adding that the deadline for initial bids was on Tuesday earlier this week.
An unexpectedly warm summer in northern Europe last year deterred holiday makers from booking lucrative last minute getaways, resulting in two major profit warnings for the world’s oldest travel company.
Worries about the firm’s ability to pay its debts pushed the yield on its euro-denominated bonds that mature in 2022 to a record high last Friday, and Thomas Cook said later in the day that it was in talks with its lenders about bolstering its finances.
Thomas Cook’s half-year earnings release for the six months to March 31 is due next Thursday.
(Reporting by Alistair Smout; Editing by Keith Weir)
LONDON (Reuters) – Thomas Cook has set a deadline of May 7 for expressions of interest in its airline business, with Indigo Partners and Lufthansa among the likely bidders, sources said.
The heavily-indebted British travel group put its profitable airline business up for sale in February after profit warnings in 2018 left it needing to raise cash.
Thomas Cook’s airlines business consists of Germany’s Condor, as well as British, Scandinavian and Spanish operations.
A sale of the business, in whole or in part, would enable the world’s oldest tour operator to invest more in its own hotels and improve its online sales.
A source familiar with the discussions said that Indigo and Germany’s Lufthansa appeared most interested in the business.
British Airways owner IAG should not be ruled out and easyJet has engaged in talks but is seen as less interested, the source added.
It is not clear whether Ireland’s Ryanair would bid.
Another source said that private equity groups KKR and Apollo might also look at taking over the whole of Thomas Cook.
The airlines business would provide access to valuable European slots linking Britain to Spain, Greece and Turkey.
Thomas Cook, Indigo, IAG and easyJet declined to comment, while Lufthansa and Ryanair were not immediately available.
Lufthansa executives have said repeatedly that the German airline wants to “play an active role” in consolidation.
Indigo, the private equity firm managed by Bill Franke, the veteran U.S. low-cost airline investor, has previously made investments in several airlines including Hungary’s Wizz.
Thomas
Cook has been revamping different parts of its business this year,
closing high street stores and reviewing its money division as it
focuses on holidays.
The company was hit badly in 2018 when a hot European summer deterred customers from booking holidays through the year.
One banking source said the airline would fetch less than 1 billion euros (£859 million). Thomas Cook has a current market value of just over £400 million.
Sources said that competition issues could influence which parts of the business different suitors go for.
Sky News has said China’s Fosun International, a Thomas Cook shareholder, was interested in its tour business.
(Reporting by Kate Holton and Clara Denina in London; additional reporting by Alistair Smout and Georgina Prodhan in London and Arno Schuetze in Frankfurt; Editing by Alexander Smith)
FILE PHOTO: A Thomas Cook Airbus A321-200 airplane takes off at the airport in Palma de Mallorca, Spain, July 28, 2018. REUTERS/Paul Hanna/File Photo
