Norton Rose Fulbright Advises Sellers On Disposal Of 49.9% Stake In The Airline Group

Norton Rose Fulbright advised Lufthansa, Thomas Cook Group, TUI Travel and Virgin Atlantic Airways (the Sellers) on their disposal of a combined stake of 49.9% in The Airline Group Limited (Airline Group) to Universities Superannuation Scheme Limited, acting as sole corporate trustee of Universities Superannuation Scheme.

Airline Group is a 41.9% shareholder in NATS Holdings Limited, the holding company for NATS, which is a world leader in the provision of air traffic management, including ensuring the safety of aircraft flying in UK airspace and over the eastern North Atlantic.

The transaction is expected to complete during the first quarter of calendar year 2014. Completion is subject to clearance from the European Commission.

British Airways, easyJet Airline Company and Monarch Airlines Retirement Benefit Plan will retain all of current interests in Airline Group with the Sellers retaining a small stake each.

The Norton Rose Fulbright team was led by corporate partner Chris Randall and assisted by Sarah Mathers and Conor Newman. James Dunnett and Marie Kissick provided advice on banking documentation. Competition advice was provided by Mark Simpson and James Flett.

-Ends-

Notes for editors:

Norton Rose Fulbright is a global legal practice. We provide the world's pre-eminent corporations and financial institutions with a full business law service. We have more than 3800 lawyers based in over 50 cities across Europe, the United States, Canada, Latin America, Asia, Australia, Africa, the Middle East and Central Asia.

Recognized for our industry focus, we are strong across all the key industry sectors: financial institutions; energy; infrastructure, mining and commodities; transport; technology and innovation; and life sciences and healthcare.

Wherever we are, we operate in accordance with our global business principles of quality, unity and integrity. We aim to provide the highest possible standard of legal service in each of our offices and to maintain that level of quality at every point of contact.

Norton Rose Fulbright LLP, Norton Rose Fulbright Australia, Norton Rose Fulbright Canada LLP, Norton Rose Fulbright South Africa (incorporated as Deneys Reitz Inc) and Fulbright & Jaworski LLP, each of which is a separate legal entity, are members ('the Norton Rose Fulbright members') of Norton Rose Fulbright Verein, a Swiss Verein. Norton Rose Fulbright Verein helps coordinate the activities of the Norton Rose Fulbright members but does not itself provide legal services to clients.


For further information please contact:

Meeta Vadher
T: +44 (0)20 7444 3097
T: +44 (0)7595 886 276
E: meeta.vadher@nortonrosefulbright.com