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XL Airways France completes sale to X-Air Aviation

November 2012

Client(s) XL Airways France

Jones Day represented XL Airways France in its sale to X-Air Aviation Holding, an entity backed by the Swiss-American investment fund Beachside Capital.  XL Airways France, an airline company that has been held by the icelandic asset-management company ALMC (previously known as the Straumur-Burdaras Investment Bank) since 2008, runs six airliners from the Paris airport Charles-de-Gaulle.  Based on a low-cost model, it is one of the few profitable airline companies in France.  In 2011, XL Airways France generated a net income of EUR 1.1M, with a revenue of EUR 304M for the same year.

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