British Airways has announced that it will buy l’Avion, a struggling French business airline, for 68 million euros ($107.3 million). L’Avion has recently been operating flights between New York’s JFK airport and Paris Orly, and will become part of its new OpenSkies unit.

The airline was founded by pilot Frantz Yvelin and Marc Rochet, a chief executive, who formerly ran Air Liberte. l’Avion’s original name was Elysair. According to Reuters, l’Avion is one of the last remaining trans-Atlantic all business airlines since rising fuel costs have affected even this segment of the airline travel market.

L’Avion started in January 2007 and has transported 65,000 passengers. The acquisition price includes l’Avion’s cash reserves of 33 million euros.

As GADLING reports, the buyout should prove profitable for British Airways because it means there is one less competitor in the market.

Photo:© caribb

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