Virgin Express Holdings and SN Brussels confirm merger

Virgin Express Holdings PLC and SN Brussels Airlines confirmed they have signed a non-binding letter of intent on a possible merger.

In a joint statement they said: "The parties have not as yet determined a detailed plan of how the Virgin Express and SN Brussels Airlines business would be jointly managed."

It also said that both companies would remain separate legal entities, and that Virgin Express would remain a publicly quoted company on both the Euronext and Nasdaq.

Belgian newspaper Le Soir reported earlier that both companies had signed a letter of intent.