EasyJet today announced that it is to purchase GB Airways for a cash sum of £103.5 million.
GB Airways, based at London Gatwick, operates to 31 destinations throughout southern Europe and North Africa with 15 airbus aircrafts under a franchise agreement with British airways. The move is in line with easyJet’s plan to expand, whilst also strengthening its presence at Gatwick, an important factor considering the highly attractive catchment area within London and the south east. Following the acquisition, easyJet will operate a total of 24% of Gatwick’s slots, carrying around 8 million passengers across 62 routes from Gatwick.
It is hoped that GB Airways will be fully integrated into the easyJet business by the end of next year. Andy Harrison, Chief Executive of easyJet said: "This is an acquisition which both strengthens our customer offering at London Gatwick, our biggest base with an attractive cathment area, and allows us to fully capitalise on the potential of the airport through a larger number of slots. The deal will bring major benefits to both easyJet and GB airways customers, delivering a wider choice of destinations at easyJet’s great prices".
GB Airways chief executive Kevin Hatton said: "The sale agreement brings to an end a period of uncertainty about the future direction of our company. We are pleased that the business and customer base built up by GB Airways will now be secured and strengthened under the ownership of the UK’s largest airline by passenger numbers, and one of the industry's most powerful brands."
