New low cost airline

Newsdesk THE Board of Directors of the low cost airline Catair, which has representatives of Iberia and four other associates on it, has decided that the name of the new low cost airline will be Clickair, according to company sources speaking yesterday. The same sources added that, in the end, a “modern and international” name had been chosen by the Board, a name which was related to the concept that more low cost airlines are “selling tickets via the Internet”. The new company will start to operate from October and will be based in Barcelona. It is expected, at first, that the company will fly to eight international destinations in Europe. Amsterdam, Geneva, Zurich, Prague, Dublin and Lisbon are expected to be among its start up destinations. It is also expected that the airline will make domestic flights, these being to Malaga, Valencia, Seville and Bilbao. The new airline has five owners, all of whom have a 20 percent share in it. These five owners are made up of Iberia, Cobra, Iberostar, Nefinsa and Quercus. The start up capital of the airline will be 50 million euros. Of this amount, Iberia has contributed 24 million euros to the operation and the other 26 million has been contributed by the other four owners.