EuroAtlantic is sold for 116 million euros – The Economic Journal

The Portuguese airline EuroAtlantic is on sale and the deal is expected to be completed by the end of September, for a value of 116 million euros, according to the Economic Review together from market sources.

EuroAtlantic is owned by Tomaz Metello, which owned 35% of the company and a year ago acquired the remaining 65% of the Pestana group, with the total capital, in a company with the Haitong bank.

EuroAtlantic is a regular and non-regular international business aviation company, registered in Portugal, based in Sintra and active at the Lisbon airport.

Metello, who is the founder and president of the company, confirmed the Publituris newspaper that EuroAtlatic is selling and that it could have a new investor by the end of this month.

He said the company is not going to the stock market, but must stay with an investor "who is interested", adding that it is "an organization that also has an airline".

A year ago, Tomaz Metello pointed out a future scenario to put EuroAtlantic on the stock market from this year on, distributing between 25% and 45% in the AIM in London.

EuroAtlantic was established on 25 August 1993 under the name Air Zarco and the Air Madeira trademark, until 17 May 2000, when it was changed to EuroAtlantic Airways.

It has eight Boeing aircraft (six B767-300ER, one B777-200ER, one B737-800NG) and one Cessna Citation CJ3, only for private flights.

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