XL Airways and La Compagnie Airlines form a merger
XL Airways France and La Compagnie announced (02-Dec-2016) a merger, creating the first French long-haul low-fare group servicing both business and economy class on the New York-Paris service. The new XL Airways/La Compagnie Group consolidated revenue will be over EUR400 million. Capital for both carriers will benefit from the support of shareholders, international and French family offices, all under La Compagnie's holding company DreamJet Participations. DreamJet Participations will have over 800 employees, including two tour operators, Héliades and Crystal. La Compagnie and DreamJet Participations founder and CEO Frantz Yvelin said, "La Compagnie is now facing continuous growth trajectory, servicing an average annual load factor around 80%". [more - original PR]