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Sabena World Airways

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BUSINESS
December 14, 1989 | From Times Wire Services
British Airways PLC and KLM Royal Dutch Airlines each plan to buy a 20% stake in a newly formed Sabena World Airways for a combined total of $110 million, the British airline announced Wednesday. The other 60% of the new airline will be held by parent company Sabena SA, which is controlled by the Belgian government, British Airways said.
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BUSINESS
November 7, 2001 | RAF CASERT, ASSOCIATED PRESS
Debt-ridden Sabena said Tuesday it plans to seek a court declaration that it is bankrupt, the final chapter for one of Europe's oldest airlines. The carrier, 50.5% owned by the Belgian government, grounded most of its flights Tuesday afternoon as its staff began to walk off the job in anticipation of the filing. Sabena sought protection from creditors last month, and the court gave it until Thursday to develop a recovery plan.
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BUSINESS
May 5, 1995 | Times Staff and Wire Reports
Swissair Agrees to Buy Belgian Airline: Swissair has agreed to pay about $230 million for a 49.5% stake in the state-run Sabena. As part of the deal, Sabena will get a capital infusion of $52.9 million from the Belgian government and $70.6 million from a consortium of Belgium investors to help the troubled airline get back on its feet.
BUSINESS
May 5, 1995 | Times Staff and Wire Reports
Swissair Agrees to Buy Belgian Airline: Swissair has agreed to pay about $230 million for a 49.5% stake in the state-run Sabena. As part of the deal, Sabena will get a capital infusion of $52.9 million from the Belgian government and $70.6 million from a consortium of Belgium investors to help the troubled airline get back on its feet.
BUSINESS
April 6, 1992 | Reuters
Air France said Sunday it is buying a 37.5% stake in Belgian state airline Sabena SA for $122 million. The Belgian government separately said it approved the link-up after more than a year of negotiation. Belgian Transport Minister Guy Coeme told a news conference in Brussels that other partners will participate in the deal. Air France will buy the stake through a Belgian holding company, which will be 67% owned by the French state airline.
BUSINESS
November 7, 2001 | RAF CASERT, ASSOCIATED PRESS
Debt-ridden Sabena said Tuesday it plans to seek a court declaration that it is bankrupt, the final chapter for one of Europe's oldest airlines. The carrier, 50.5% owned by the Belgian government, grounded most of its flights Tuesday afternoon as its staff began to walk off the job in anticipation of the filing. Sabena sought protection from creditors last month, and the court gave it until Thursday to develop a recovery plan.
BUSINESS
December 31, 1990 | From Times Wire Services
British Airways PLC, KLM Royal Dutch Airways and Belgium's Sabena World Airways announced today they are scrapping their plans jointly to form a regional airline with a hub in Brussels. The three carriers in a joint news release cited "practical difficulties involved in implementing the original objectives." A KLM spokesman acknowledged that uncertainty over obtaining European Community regulatory approval was a factor.
BUSINESS
June 19, 1990 | From Times Wire Services
The Belgian national airline Sabena today said it had suffered an operating loss of more than $36 million in 1989. Announcing the results before the group's annual stockholders meeting, Sabena Chairman Carlos Van Rafelghem said: "We won't be able to go on living through such situations." Sabena, British Airways and Dutch KLM last year set up Sabena World Airways. BA and KLM each have 20% stakes in the new operating company.
BUSINESS
April 6, 1992 | Reuters
Air France said Sunday it is buying a 37.5% stake in Belgian state airline Sabena SA for $122 million. The Belgian government separately said it approved the link-up after more than a year of negotiation. Belgian Transport Minister Guy Coeme told a news conference in Brussels that other partners will participate in the deal. Air France will buy the stake through a Belgian holding company, which will be 67% owned by the French state airline.
BUSINESS
December 14, 1989 | From Times Wire Services
British Airways PLC and KLM Royal Dutch Airlines each plan to buy a 20% stake in a newly formed Sabena World Airways for a combined total of $110 million, the British airline announced Wednesday. The other 60% of the new airline will be held by parent company Sabena SA, which is controlled by the Belgian government, British Airways said.
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