Mr. Georges Samaha, the Chairman of Athens-based SAPO International, and Mr. Vitor Costa, the President of Lisbon-based Longstock Financial Group, announced a new partnership, creating Gibraltar-based Longstock SAPO. The new firm intends to purchase a controlling share in Vienna-based SkyEurope, which is a budget airline in Europe, upon approval from regulators.

Due to SkyEurope’s current financial situation, Longstock SAPO plans on injecting fresh capital into the airline, but doesn’t have the intention of launching a mandatory takeover proposal for the carrier. However, they will propose the gain of restructuring privileges under the Austrian Takeover Act. The airline has been given a lifeline from Longstock SAPO with a granted €10 million bridging loan facility from the company in hopes of a potential equity injection in the future.

SAPO International is a specialists in luxury travel, which includes private island resorts and yachting holidays. Longstock Financial Group acquired Air Luxor when the airline was about to file bankruptcy during 2006.

SkyEurope’s services focus on Eastern and Central European destinations. They offer convenient short-haul flights to 41 destinations in 19 countries from their bases in Vienna, Kosice, Prague, and Bratislava. The airline also has the most modern European fleet, consisting of 15 new Boeing 737-700 aircrafts that have a passenger capacity of 149.

Furthermore, SkyEurope was awarded as the best budget carrier in Eastern Europe by Skytrax Research of London. The survey’s results represent 90 worldwide nationalities’ opinions, and it also ranked them as the 3^rd best budget airline throughout all of Europe.

Visit www.skyeurope.com to learn more about the carrier.