The French airline Corsair is to be recapitalized by the state and private investors with a total of 297 million euros. In connection with this transaction, the company will be sold to a consortium led by Eric Kourry and Patrick Vial-Collet.

The current majority owner Intro Aviation (53 percent) and Tui (27 percent) will sell their shares. The employee foundation will also hand over its minority stake to the consortium. This will be the sole owner of Corsair International upon completion of the transaction. According to the daily La Tribune, the exact plan will be presented on December 1, 2020. Corsair stated that the contract that has now been concluded gives the approximately 1.200 employees a perspective and will enable the company to position itself as an important player in traffic between France and the overseas territories.

According to the French media report, the state is to provide 141 million euros. The Tui Group is expected to inject a further 126 million euros. The new investors bring with them 30 million euros. The only thing the daily newspaper does not write about is a possible dowry from Intro Aviation.

Corsair also wants to stick to the fleet renewal plan. In the coming year, the plan is to take over brand-new long-haul aircraft of the type Airbus A330-900 in the following months: April, May, June and December 2021. A fifth aircraft is to follow in June 2022, according to the company. At the same time, the last A330-200 is to be phased out.

"In addition to strengthening the current connections to Martinique, Guadeloupe, Réunion, Mauritius, Abidjan and Montréal Trudeau, an expansion of the network with the opening of new destinations including Mayotte Dzaoudzi is planned from December 11, 2020", Corsair said in a statement.