EUjet to be taken over by Planestation

Shannon-based EUjet is set to taken over by the Planestation Group.

EUjet, which is based at Shannon, was established in 2002 and since May 2003 has been operating Fokker 100 wet-lease and charter operations in various European countries.

Subject to approval from the relevant authorities, the shareholders have agreed arrangements with Planestation Group Plc, the airports and property company listed on the London Stock Exchange, which will result in EUjet becoming a wholly-owned subsidiary of Planestation.

Planestation currently has a 30% shareholding in the airline. As part of the deal EUjet CEO, PJ McGoldrick, is to join the board of Plane Station Group.

Commenting on the announcement PJ McGoldrick, chief executive of EUjet, said: “For an operator to have long term stability requires long term arrangements with airports, particularly at the airlines main bases of operation.

"The best way of achieving this, is for the airline and airport operator to come together to offer low cost air transport to the market. As a result of this historic and groundbreaking transaction, Planestation and EUjet will be in a position to offer such a service from its bases in Kent but eventually also from other Planestation airports.”

On September 1 EUjet launched scheduled flights from Kent International Airport. It launched scheduled flights from Shannon, Ireland on September 18.

EUjet will phase out its existing wet lease and charter business to concentrate on building its scheduled service operation.