Gadair finalizing the acquisition of the Swedish airline SAS Spanair

Gadair, a small airline Origin Majorcan and the participating entrepreneurs Catalans last time trial to the acquisition of the Swedish SAS Spanair. The legal teams of the partners of both companies and business bank UBS, which intermediate operation, last night had almost completed the sales contract, as he was able to see this daily business sources.
Although the final price around € 500 million, the actual disbursement Gadair to take control of the second Spanish airline (carries 10 million passengers per year) will be limited to about 150 million. To this figure must add that the accumulated debt, which according to various estimates assumed other financial 350 million.
Gadair, which already has a registered office in Barcelona, competed with more than a dozen candidates, including the tourist group Marsans, which withdrew from the bidding. The Iberia with Gestair was counted a priori more likely to succeed, given the financial strength of the former flag carrier.
After taking into account these funds, as well as the guarantees provided in the SAS to make a payment, the agreement with Gadair be clarified on Tuesday. First there was a stumbling block to be resolved: Spanair plane owners - which operates under financial lease (leasing) - considered insufficient financial guarantees Catalan team to translate existing contracts. Yesterday already exceeded the difficulties, as evidenced sources negotiations, which makes an official declaration of the imminent pact between Gadair and SAS.
Two days after submission of the bid Gadair, which will be a capital increase to give more input to shareholders Catalans, the President of the Generalitat, Jose Montilla, made public his dissatisfaction with that was eventually acquired Iberia who Spanair.
Indirect intervention by the head of administration of Catalan as not to obstruct other participants, but its call for Gadair directors, which they planned to use its good relations with the Government of Catalonia to face competition from "Iberia" in El Prat, according to sources in the sector.